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UPI, RuPay Cards To Go Global; NPCI Launches International Subsidiary To Expand Reach
The UPI channel is growing at a fast pace with a helping hand from the government.
India's famed digital payments champion, United Payments Interface (UPI) is now set to go global with its parent National Payments Corporation of India (NPCI) instituting a new subsidiary NPCI International Payments limited (NIPL) to take the business beyond Indian shores, reports Business Standard.
With the launch of NIPL, NPCI is aiming to take UPI and the Government-backed RuPay Card global, and also to help other nations in establishment of a real-time payment system, or a domestic card scheme. This comes as several nations in Africa and the Middle East have evinced interest in these systems, inspired by their successful implementation in India.
It should further be noted that the international expansion of NPCI will help expand the acceptance networks of RuPay and UPI which will further empower the Indian travellers to use these homegrown payment channels and platforms.
Meanwhile, the RuPay Card has already been on global expansion, with its services having been launched in Singapore, Bhutan, Maldives, Saudi Arabia, United Arab Emirates, Bahrain, Myanmar, Australia and South Korea.
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