Maldives will soon be able to use the United Payments Interface (UPI), according to External Affairs Minister S. Jaishankar. During his three-day tour to the Maldives, Jaishankar took to X (previously known as Twitter) to announce that the Maldives and India have reached an agreement to introduce the Unified Payments Interface.
“Witnessed signing of a MoU between the National Payments Corporation of India and the Ministry of Economic Development and Trade of the Maldives on the introduction of a digital payment system in the Maldives,” he said in a post on X.
Speaking at a news conference alongside his counterpart Moosa Zameer from the Maldives following their “productive discussions,” Jaishankar said that India has “revolutionized digital transactions” with its UPI.
“We see this revolution every day in our lives. I am pleased to note that with the signing of the MoU today, we have taken the first step towards bringing this digital innovation to the Maldives.”
“I wish the very best to stakeholders on both sides and hope that we will soon see the first UPI transaction here. I should mention that it will have a very positive impact on tourism,” he added.
List of countries where UPI is accepted
The National Payments Corporation of India (NPCI) is the organization that created UPI. It is a mobile-friendly instantaneous real-time payment technology that makes interbank transactions easier.
Seven nations currently accept UPI. These are: Bhutan, France (e-commerce), Mauritius, Nepal, Singapore, Sri Lanka, and the UAE.
Another event was the exceeding of 100,000 cross-border UPI Person-to-Merchant (P2M) transactions in Nepal by the NPCI International Payments Limited (NIPL), marking a significant milestone. The National Payments Corporation of India (NPCI) has an international division called NIPL.
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