UPI, RuPay To Be Available Soon In Europe, NPCI Partners With European Payments Provider
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.
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