Money & Business

India’s Unified Payment System to Be Launched in Sri Lanka, Mauritius

India’s Unified Payment Interface (UPI) services will be launched in Mauritius and Sri Lanka, a week after it was launched in France.

The payment gateway service is to be launched in the two island nations at a virtual event by Indian Prime Minister Narendra Modi, President of Sri Lanka Ranil Wickremesinghe, and Prime Minister of Mauritius Pravind Jugnauth on Monday, February 12.

The event will also see the launch of RuPay card services in Mauritius, according to India’s Ministry of External Affairs.

The UPI – developed by the National Payments Corporation of India – is an instant real-time payment system to facilitate inter-bank transactions through mobile phones.

RuPay is a global card payment network from India accepted at shops, ATMs and online.

The two are considered among India’s top list of technology achievements, helping the country to emerge as a leader in fintech innovation and digital public infrastructure.


Arabian Business

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