In February last year, India and Singapore launched a cross-border linkage using their respective Fast Payment Systems - Unified Payments Interface (UPI) and PayNow
India’s flagship instant payment system, the Unified Payments Interface (UPI), will be launched in Sri Lanka and Mauritius on Monday, the Centre said on Sunday.
Prime Minister Narendra Modi, Sri Lankan President Ranil Wickremesinghe and Mauritius Prime Minister Pravind Jugnauth will witness the launch of UPI services in Sri Lanka and Mauritius, and also RuPay card services in Mauritius, the Press Information Bureau said.
The launch will enable availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India.
The extension of RuPay card services in Mauritius will enable Mauritian banks to issue cards based on the RuPay mechanism in Mauritius. RuPay cards can be used for settlements both in India and Mauritius, the statement said.
“India has emerged as a leader in fintech innovation and digital public infrastructure. The Prime Minister has placed a strong emphasis on sharing our development experiences and innovation with partner countries.
Given India’s robust cultural and people-to-people linkages with Sri Lanka and Mauritius, the launch will benefit a wide cross-section of people through a faster and seamless digital transaction experience and enhance digital connectivity between the countries,” it said.
In February last year, India and Singapore had launched cross-border linkage using their respective fast payment systems — Unified Payments Interface (UPI) and PayNow.
First Published: Feb 11 2024 | 8:33 PM IST