UPI service launched in Sri Lanka and Mauritius
The launch will benefit a wide cross-section of people through a faster and more seamless digital transaction experience and enhance digital connectivity between the countries.
New Delhi: Prime Minister Narendra Modi has inaugurated virtually the UPI services in Sri Lanka and Mauritius along with his counterparts respectively. The service was already enabled in France a few weeks ago.
The approach will significantly boost India's robust culture and P2P linkage [People-to-People] with Sri Lanka and Mauritius. The launch will benefit a wide cross-section of people through a faster and more seamless digital transaction experience and enhance digital connectivity between the countries.Read Also : THDCIL conferred with prestigious 1st Prize for ‘Advancement in Green Mobility
Earlier the UPI was launched in France at Eiffel Tower in Paris on 2 February where the launch was marked as a 'vision of taking UPI global'.
The facility will be suitable for Indian tourists visiting the two countries to be able to use UPI to make payments while Mauritians traveling to India will also be able to use it. The extension of RuPay services will also enable Mauritian banks to issue RuPay cards and use them for settlements in both India and Mauritius.
The nation has emerged as a leader in Fintech innovation and Digital Public Infrastructure. Prime Minister Modi has strongly emphasis the thesis of the Neighbourhood First Policy and expressed confidence that connection with UPI will benefit Sri Lanka and Mauritius where it will enhance digital transformation, boost local economies and tourism will be promoted.
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The UPI and RuPay card system will enable real-time, cost-effective, and convenient payments in our currency. While it will move towards cross-border remittances i.e. Person-to-Person [P2P] payment facility.Read Also : HPCL and Birmingham University join hands
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