Prime Minister Modi, President of Sri Lanka and Prime Minister of Mauritius watch UPI service launch

Prime Minister Narendra Modi, Sri Lankan President Ranil Wickremesinghe and Mauritius Prime Minister Pravind Jugnauth will witness the unification of Sri Lanka and Mauritius through video conferencing on Monday, it was announced here on Sunday Launch of Payment Interface (UPI) service.

The launch will provide UPI settlement services to Indian nationals traveling to Sri Lanka and Mauritius and Mauritian nationals traveling to India, the High Commission of India said in a statement.

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. Given India’s close cultural and people-to-people ties with Sri Lanka and Mauritius, the launch will benefit a wider segment of the population through a faster and seamless digital transaction experience and enhance digital connectivity between the two countries. “

Earlier this month, India officially launched UPI at the iconic Eiffel Tower in Paris, calling it Modi’s global vision for India’s instant payments system developed by the National Payments Corporation of India (NPCI) in 2016.

“It’s great to see this, it marks an important step for UPI to go global. This is a great example of encouraging digital payments and strengthening connectivity,” Modi said earlier this month. UPI, according to NPCI is a system that integrates multiple bank accounts into a single mobile app (for any participating bank), merging multiple banking functions, seamless funds routing and merchant payments into a single engine.

(This story has not been edited by News18 staff and is published from associated news agency – PTI)