Like UAE, PM Modi encourages BRICS nations to adopt UPI
PM Modi on Wednesday invited BRICS nations to adopt India's Unified Payments Interface (UPI) in their markets and welcomed steps for financial integration in amongst the nations.
Modi said that UAE had adapted the UPI payments system and Mauritius has also expressed an interest for the technology.
UPI in Dubai
UPI was introduced in Dubai on March 28 this year. This collaboration was facilitated through Dubai-headquartered Mashreq’s partnership with NPCI International Payments Limited (NIPL) and is part of the government’s plan to take UPI outside India. Mashreq has enabled Neopay terminals to accept UPI as a payment instrument.
Anubhav Sharma, deputy chief, partnership business development and marketing, NIPL, said this is part of their efforts to create cross-border payment solutions for consumers.
“This partnership unifies the ecosystem to streamline payment processes for Indian travellers to the UAE,” Sharma added.
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