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, 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.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.