Revolutionizing Cross-border Transactions: UPI Expansion in the UAE
NPCI International Payments Ltd is expanding Unified Payments Interface (UPI) acceptance across the UAE, enhancing digital payments for Indian travelers and supporting the UAE's cashless vision. Collaborations with local regulators and financial institutions aim to enable seamless, secure transactions, boosting convenience for travelers and merchants alike.
- Country:
- United Arab Emirates
NPCI International Payments Ltd (NIPL), the global branch of India's National Payments Corporation, is set to expand the Unified Payments Interface (UPI) acceptance across the United Arab Emirates. This initiative aims to reshape the digital payment landscape, offering secure and seamless payment experiences to both consumers and merchants.
In a strategic collaboration with UAE-based partners, NIPL works closely with regulators and acquirers. The goal is to facilitate UPI's acceptance across key sectors like retail, hospitality, and transportation, fostering a cashless economy in alignment with Dubai's plan for 90% digital transactions by 2026.
The expansion also aims to enhance convenience for the millions of Indian tourists visiting the UAE each year. By working with local financial institutions, UPI acceptance is being rolled out at prominent outlets, providing a touch of digital transformation to the travel-remittance corridor between India and the UAE.
(With inputs from agencies.)
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