Sri Lanka and Mauritius will be the most recent nations to make the Indian digital payment system operational, one week after the Unified Payments Interface (UPI) was introduced in France. Today, RuPay cards will also be launched in Mauritius.
At 1 pm, Prime Minister Narendra Modi will virtually attend the opening ceremony alongside President Ranil Wickremesinghe of Sri Lanka and his colleague Pravind Jugnauth of Mauritius.
“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,” according to his office.
UPI will be available to Indian visitors to these two nations and Mauritanian travellers to India for making payments. Mauritian banks will be able to issue RuPay cards and utilise them for settlements in both India and Mauritius due to the expansion of RuPay services.
“Digital public infrastructure and Fintech innovation have seen India rise to importance. The administration said the prime minister has prioritised sharing our innovations and development experiences with partner nations.
The government referred to PM Modi’s “vision of taking UPI global” as the reason behind UPI’s debut on February 2 during the Republic Day event held at the Eiffel Tower in Paris.
In India, a mobile-based payment system called UPI enables 24-hour payments using a virtual payment address. It unifies different financial functions into a single app and powers several bank accounts.
