RuPay Card debut in Mauritius and Lanka to boost digital transactions

New Delhi: Prime Minister Narendra Modi, alongside Sri Lankan President Ranil Wickremesinghe and Mauritian Prime Minister Pravind Jugnauth, is set to inaugurate the Unified Payment Interface (UPI) services in Sri Lanka and Mauritius. The ceremony, scheduled for February 12, 2024, at 1 PM, will be conducted via video conferencing.

India, renowned for its prowess in Fintech innovation and digital infrastructure, is extending its expertise to its partner nations. With a focus on sharing developmental experiences, Prime Minister Modi aims to bolster the existing cultural and people-to-people ties with Sri Lanka and Mauritius. The launch of UPI services is poised to revolutionize digital transactions, fostering seamless connectivity between these nations.

This strategic move will facilitate swift digital transactions for Indian nationals visiting Sri Lanka and Mauritius, and vice versa, enhancing convenience and efficiency. Furthermore, the introduction of RuPay card services in Mauritius will empower local banks to issue RuPay cards, enabling transactions within India and Mauritius.

The initiative underscores India's commitment to fostering global digital integration, promoting economic cooperation, and strengthening diplomatic relations through technological advancement.

Earlier this month, India formally launched UPI at the iconic Eiffel Tower in Paris, terming it as taking global Modi's vision of the Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016.

Modi had earlier this month said: "Great to see this- it marks a significant step towards taking UPI global. This is a wonderful example of encouraging digital payments and fostering stronger ties."

UPI is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood, according to NPCI