India’s flagship instant payment system, the Unified Payment Interface (UPI), will be inaugurated in Sri Lanka and Mauritius on February 12, the government said on Sunday.
Prime Minister Narendra Modi, President of Sri Lanka, Ranil Wickremesinghe, and Prime Minister of Mauritius, Pravind Jugnauth will witness the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, as well as RuPay card services in Mauritius, on February 12, 2024, the Press Information Bureau said.
The launch will enable the 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 and facilitate the usage of RuPay Cards 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 launched a cross-border linkage using their respective Fast Payment Systems – Unified Payments Interface (UPI) and PayNow.
First Published: Feb 11 2024 | 8:33 PM IST