India’s Unified Payments Interface (UPI) service has launched virtual ceremonies in Sri Lanka and Mauritius on Monday. The event was witnessed by Prime Minister Narendra Modi, Mauritian Prime Minister Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe.
Apart from this, India’s RuPay card service has also been launched in Mauritius and Sri Lanka in a virtual ceremony.
In Sri Lanka, the interface will be connected with Lanka Pay to allow digital transactions on Sri Lanka’s UPI.
This facility will simplify remittances between the two countries.
Developed by the National Payments Corporation of India (NPCI), UPI is an instant, real-time payment system designed to facilitate inter-bank transactions through mobile phones. RuPay is a global card payment network from India that is widely accepted in stores, ATMs and online.
India’s launch of services in Sri Lanka and Mauritius comes amid growing bilateral economic ties between New Delhi and the two countries.
“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 Ministry of External Affairs said in a statement.
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