Business
UPI
NPCI International Payments Ltd (NIPL) has partnered with global payment service provider Worldline to expand the acceptance of Indian payment mechanism, UPI and RuPay, in Europe.
NIPL, the international arm of National Payments Corporation of India (NPCI), has joined forces with Worldline to bring more convenience for Indian customers in the European markets by allowing merchants’ point-of-sale (POS) systems to accept payments from UPI as well as RuPay card payment network solution.
This will result in a multitude of customer-related merchant benefits due to an increase in footfall and spending from Indian tourists, the NPCI said in a statement.
With this partnership, Worldline will become the first European company to offer UPI and RuPay to European merchants and Indian tourists travelling to Europe.
Currently, customers from India pay through international card networks.
However, the United Payments Interface allows multiple bank accounts to be accessed through one single mobile application.
This, in turn, will enhance customer experience while opening up new business prospects for merchants, the company said.
"Facilitated via Worldline QR, the company’s universal product for the acceptance of all QR-based payments, the first target markets for NIPL are set to include BENELUX and Switzerland with further plans for expansion, as Worldline QR is rolled out in more European countries," NPCI said.
India is one of the most important tourist markets for Europe with an estimated 10 million Indians travelling to the region each year prior to the pandemic, according to Schengen Visa. Now, as the impacts of COVID-19 begin to subside, that number is expected to significantly increase.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest