Indian Prime Minister Narendra Modi inaugurated India’s Unified Payments Interface (UPI) services in Sri Lanka and Mauritius, highlighting the initiative as a symbol of India’s cooperation with the Global South.
PM Modi expressed confidence that the availability of UPI services would attract Indian tourists to these destinations and benefit the Indian diaspora by reducing dependence on hard currency.
The launch also includes the extension of RuPay card services in Mauritius, facilitating transactions between India and Mauritius.
India’s focus on sharing fintech innovation and development experiences with partner countries underscores its leadership in the digital space.
PM Modi emphasized the role of fintech connectivity in strengthening cross-border transactions and connections, citing the transformative impact of Digital Public Infrastructure like UPI in India.
The launch marks an important step in enhancing digital connectivity between the countries and will benefit a wide cross-section of people.
Unified Payments Interface (UPI) is India’s mobile-based fast payment system, enabling round-the-clock payments using Virtual Payment Addresses (VPA).
The extension of UPI services reflects India’s commitment to expanding fintech solutions globally, with partnerships established with several countries including Sri Lanka, Mauritius, France, UAE, and Singapore.
(ANI) Agencies
