Unified Payments Interface (UPI), the Indian digital payment system, continues to expand its reach globally as it was recently launched in Sri Lanka and Mauritius, following its introduction in France. Prime Minister Narendra Modi, along with his Mauritian counterpart Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe, virtually witnessed the launch event. The launch also included the introduction of RuPay cards in Mauritius.
The launch of UPI in these countries aims to enhance digital connectivity and facilitate faster and seamless digital transactions between India, Sri Lanka, and Mauritius. It is expected to benefit a wide range of people, including Indians visiting these countries who can now use UPI for payments, and Mauritians traveling to India who will also have access to this payment system. Additionally, the extension of RuPay services will enable Mauritian banks to issue RuPay cards and utilize them for settlements in both India and Mauritius.
The Indian government has emphasized its commitment to sharing its development experiences and innovation in fintech and digital public infrastructure with partner countries. India has emerged as a leader in these areas, and Prime Minister Modi envisions taking UPI global.
The launch of UPI in France took place at the Eiffel Tower during the Republic Day reception on February 2. This global expansion of UPI reflects the government’s vision and efforts to promote this mobile-based payment system, which enables round-the-clock payments through a virtual payment address. UPI consolidates multiple bank accounts into a single app, providing users with various banking features in one convenient platform.
The introduction of UPI in Sri Lanka and Mauritius signifies another milestone in the global adoption of India’s digital payment system, fostering stronger economic ties and facilitating seamless transactions between these countries.