Monday, February 26, 2024
Monday, February 26, 2024
HomeBusinessIndian UPI services introduced in Sri Lanka and Mauritius

Indian UPI services introduced in Sri Lanka and Mauritius


India’s Unified Payments Interface (UPI) services were launched in Sri Lanka and Mauritius in a virtual event on Monday.

The virtual ceremony was attended by Prime Minister Narendra Modi, Mauritius Prime Minister Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe.

READ ALSO: Not only Sri Lanka, these countries have also accepted India’s UPI.

India’s Unified Payments Interface (UPI) services were launched in Sri Lanka and Mauritius in a virtual event on Monday. (Blind)

The launch of Indian services in Sri Lanka and Mauritius came amid New Delhi’s growing bilateral economic ties with the two countries.

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The launch enables the availability of UPI settlement services for Indian citizens traveling to Sri Lanka and Mauritius as well as Mauritius citizens traveling to India.

“This would increase tourism among us (India, Sri Lanka and Mauritius). I am sure Indian tourists would also prefer destinations where UPI services are available,” PM Modi said.

“During (Sri Lankan) President Ranil Wickremesinghe’s visit to India last year, the two nations adopted a vision document. Increasing financial connectivity was a key part of that. A detailed discussion was also held with Mauritius Prime Minister Pravind Jugnauth last year. “I am sure that both nations, Sri Lanka and Mauritius, will benefit from this,” the Prime Minister added.

Talking about digital infrastructure, Prime Minister Modi said, “Digital public infrastructure has brought about a revolutionary change in India. Even the smallest businessman in our smallest village makes digital payments because it is convenient as well as fast.”

Earlier this month, France allowed Indian tourists visiting the iconic Eiffel Tower in Paris to buy tickets through the UPI mechanism. France is the first European country to accept UPI payments. This UPI service will be extended to other tourist and retail businesses in the European nation.

Last year, a crucial MoU was exchanged between the Reserve Bank of India and the Central Bank of the United Arab Emirates, with the aim of interconnecting the payment and messaging systems of both countries. The MoU also aimed to foster seamless integration between India’s Unified Payments Interface (UPI) and the UAE’s Instant Payments Platform (IPP).

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