Prime Minister Modi will virtually witness the launch together with the leaders of Sri Lanka and Mauritius. (document)
New Delhi:
A week after France launched the Unified Payments Interface (UPI), Sri Lanka and Mauritius will become the latest countries to activate India’s digital payments system. The RuPay card will also be launched in Mauritius today.
Prime Minister Narendra Modi will virtually witness the launch event at 1 pm along with Mauritian Prime Minister Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe.
His office said: “Given the strong cultural and people-to-people ties between India and Sri Lanka and Mauritius, this launch will benefit a wider population through a faster and seamless digital transaction experience and enhance digital connectivity between the two countries .”
Indians traveling to both countries will be able to make payments using UPI, while Mauritians traveling to India will also be able to use it. The expansion of RuPay services will also enable Mauritian banks to issue RuPay cards and use them for settlement in India and Mauritius.
“India has emerged as a leader in fintech innovation and digital public infrastructure. The Prime Minister attaches great importance to sharing our development experience and innovation with partner countries,” the government said.
UPI was launched on February 2 during a Republic Day reception at the Eiffel Tower in Paris, with the government calling it part of Prime Minister Narendra Modi’s “vision to make UPI global”.
UPI is India’s mobile-based payment system that allows round-the-clock payments through virtual payment addresses. It integrates multiple bank accounts into one application and multiple banking functions into one application.
