India’s Unified Payment Interface (UPI) providers had been on Monday rolled out in Sri Lanka and Mauritius, with Prime Minister Narendra Modi describing it as linking historic ties with trendy digital know-how.
India’s RuPay card providers had been additionally launched in Mauritius at a digital ceremony attended by Prime Minister Modi, his Mauritian counterpart Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe.
In his remarks, Modi hoped the brand new fintech providers would assist the 2 nations and mentioned the UPI is implementing “new responsibilities of uniting partners with India”.
“Today is a special day for the three friendly countries of the Indian Ocean Region as we are linking our historic ties with modern digital technology,” he mentioned.
“I believe that Sri Lanka and Mauritius will benefit from the UPI system,” Modi mentioned.
The prime minister mentioned digital public infrastructure has led to a revolutionary change in India. He additionally highlighted India’s deal with its “neighbourhood first policy”.
“Be it a natural disaster, health-related, economic or supporting on the international stage, India has been the first responder, and will continue to be so,” he mentioned.
The launch of the Indian providers in Sri Lanka and Mauritius got here amid New Delhi’s growing bilateral financial ties with the 2 international locations.
The transfer permits the provision of UPI settlement providers for Indian nationals travelling to Sri Lanka and Mauritius in addition to for Mauritian nationals travelling to India.
Developed by the National Payments Corporation of India (NPCI), UPI is an immediate real-time cost system to facilitate inter-bank transactions by means of cell phones. RuPay is a worldwide card cost community from India, with extensive acceptance at outlets, ATMs, and on-line.