This is the proud moment for India. One week after the launch of the Unified Payments Interface (UPI) in France, Sri Lanka and Mauritius have become the latest countries to adopt the Indian digital payment system.
Prime Minister Narendra Modi participated virtually alongside Mauritian Prime Minister Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe to observe the launch event. Additionally, RuPay card services were inaugurated in Mauritius.
UPI will boost cultural ties and offers seamless digital transactions
India’s launch of UPI in Sri Lanka and Mauritius strengthens cultural ties and offers seamless digital transactions. It benefits travelers from both nations, allowing Indians to use UPI abroad and Mauritians to access RuPay services. This reflects India’s leadership in Fintech and commitment to sharing innovation globally.
UPI launched on Feb 2 in France
UPI was launched at the Eiffel Tower in Paris on February 2nd during the Republic Day reception, as part of Prime Minister Modi’s vision to globalize UPI.
Note:
The President of France Emmanuel Macron was the Chief Guest for the 75th Republic Day of India on January 26th, 2024.
About Unified Payments Interface (UPI)
Unified Payments Interface (UPI) is a real-time payment system developed by the National Payments Corporation of India (NPCI).
Features of UPI
- It allows users to instantly transfer money between bank accounts through mobile devices with the use of a unique identifier called a Virtual Payment Address (VPA) or by scanning QR codes.
- UPI facilitates seamless peer-to-peer transactions as well as merchant payments.
- It has gained widespread popularity in India due to its convenience, speed, and interoperability across different banks and payment service providers.
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