Is UPI available in sri lanka and mauritius?
India’s Prime Minister, Narendra Modi, alongside Sri Lanka’s President, Ranil Wickremesinghe, and Mauritius’ Prime Minister, Pravind Jugnauth, celebrated a momentous occasion as india launches UPI in Sri Lanka and Mauritius. Additionally, RuPay card services were introduced in Mauritius, marking a significant step towards enhancing digital connectivity and financial cooperation between the nations.
The Significance of the Launch:
The launch of UPI and RuPay services symbolizes India’s commitment to bolstering bilateral economic ties and fostering digital connectivity with Sri Lanka and Mauritius. This strategic initiative underscores India’s leadership in fintech innovation and digital public infrastructure.
Unified Payment Interface (UPI) Services:
UPI services, crafted by the National Payments Corporation of India (NPCI), offer instant real-time payment solutions via mobile phones. This initiative aims to facilitate seamless digital transactions and enhance financial inclusivity in Sri Lanka and Mauritius. The inaugural UPI transaction in Sri Lanka marked a milestone in cross-border digital payments, showcasing the potential for broader cross-border connections.
RuPay Card Services:
RuPay, an Indian-origin card payment network, boasts global recognition and broad acceptance at various points of sale, ATMs, and online platforms. The introduction of RuPay card services in Mauritius empowers Mauritian banks to issue cards based on the RuPay mechanism, facilitating settlements in both India and Mauritius. This move aligns with India’s commitment to sharing its fintech innovations and experiences in digital public infrastructure with partner countries.
Digital Transformation and Connectivity:
Prime Minister Modi emphasized the transformative impact of India’s UPI and Digital Public Infrastructure, highlighting the convenience and speed these technologies offer. With over 100 billion transactions valued at Rs 2 trillion conducted via UPI in 2023, the popularity of India’s mobile-based fast payment system continues to surge. The government aims to extend the benefits of UPI beyond national borders, fostering broader digital connectivity among nations.
Promoting Tourism and Economic Growth:
The launch of UPI and RuPay services is anticipated to benefit a diverse population through expedited and seamless digital transactions, enhancing digital connectivity among India, Sri Lanka, and Mauritius. Prime Minister Modi expressed confidence that the connection with UPI will promote tourism and drive positive change in local economies. Additionally, Indian tourists, people of Indian origin living in Sri Lanka and Mauritius, and students studying there will enjoy special benefits from these services.
Global South Cooperation:
Today’s launch symbolizes the success of Global South cooperation, emphasizing the historical relations and strength of people-to-people connections between India, Sri Lanka, and Mauritius. Prime Minister Modi highlighted India’s commitment to supporting its neighboring friends in times of crisis and its special attention towards the concerns of the Global South. Initiatives like the Social Impact Fund demonstrate India’s dedication to extending the benefits of its digital public infrastructure to countries in need.
The launch of UPI and RuPay services in Sri Lanka and Mauritius marks a significant milestone in India’s efforts to enhance digital connectivity and financial cooperation with its neighboring nations. This initiative not only strengthens bilateral economic ties but also promotes tourism, fosters inclusive growth, and facilitates cross-border transactions. As India continues to lead in fintech innovation, the extension of UPI and RuPay services underscores its commitment to fostering global digital cooperation and connectivity.
1) Is UPI available in SriLanka?
Ans- On Monday, February 12, the Ministry of External Affairs announced the opening of Unified Payment Interface (UPI) services in Mauritius and Sri Lanka as a step toward improving cross-border digital transactions. India has also launched RuPay card services in Mauritius as part of this program.
2) Is UPI available in Mauritius?
Ans- Enables UPI International In The UAE, Singapore, Mauritius, Nepal, & Bhutan Through PhonePe.