Users will be able to make UPI payments to UAE merchants now

Indian travelers can now use UPI for seamless payments in UAE
Users will be able to make UPI payments to UAE merchants now
Users will be able to make UPI payments to UAE merchants now

The Indian Government has been promoting UPI globally to facilitate faster digital payments. Now, UPI will be introduced in the UAE, a Middle Eastern country.

NPCI International Payments Limited has partnered with Network International, a prominent digital commerce company in the Middle East and Africa, to enable this expansion.

Indian travelers and NRIs in the UAE will now be able to use Unified Payments Interface (UPI) for transactions via QR codes at Point of Sale machines.

According to NPCI, "The number of Indian travelers in the Gulf Cooperation Council (GCC) is expected to reach 9.8 million by 2024, with around 5.3 million likely to visit the UAE alone."

The Government of India, the Reserve Bank of India (RBI), and NPCI International are collaborating to promote UPI globally.

UPI is currently accepted in Nepal, Sri Lanka, Mauritius, UAE, Singapore, France, and Bhutan.

Also, read: Koo announces to shut down after partnership talks fell through

NPCI reports that in June, there were 13.9 billion transactions on the UPI platform, marking a 49% annual increase. The platform averaged 463 million transactions per day, with an average daily transaction value of Rs 66,903 crore.

The rise in UPI transactions is attributed to the integration of RuPay credit cards with UPI and the expansion of UPI services in foreign countries.

Related Stories

No stories found.
X
Indulgexpress
www.indulgexpress.com