India is rolling out its digital payment system to neighbouring countries:- www.deekpay.com
India's Unified Payment Interface (UPI) system is expanding to neighbouring countries, according to a report on developingtelecoms.com, which is briefly summarised below:
- Developed by the National Payments Corporation of India (NPCI), the UPI system is an instant real-time payment system that facilitates inter-bank transactions through mobile phones.
- UPI has made its official debut in Sri Lanka and Mauritius, and through a partnership with LankaPay, Sri Lanka's national payment system, Sri Lankan businesses can seamlessly accept payments from UPI-enabled apps.
- Mauritius has also enabled UPI payments.
- The Reserve Bank of India (RBI) has signed an agreement with the State Bank of Nepal to integrate UPI with Nepal's National Payment Interface (NPI) for cross-border remittances.
Image from developingtelecoms website.
Compiled by Shi Tianyang