India's Unified Payments Interface (UPI) services were on Monday introduced in Sri Lanka and Mauritius at a virtual event.
India's Unified Payments Interface (UPI) services were on Monday introduced in Sri Lanka and Mauritius at a virtual event.
The virtual ceremony was attended by Prime Minister Narendra Modi, Mauritian PM Pravind Jugnauth and Sri Lanka's President Ranil Wickremesinghe.
The launch of the Indian services in Sri Lanka and Mauritius came amid New Delhi's increasing bilateral economic ties with the two countries.
The launch enables the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India.
"This would increase the tourism between us (India, Sri Lanka and Mauritius). I am confident that Indian tourists would also prefer destinations where UPI services are available," PM Modi said.
“During (Sri Lankan) president Ranil Wickremesinghe's India visit last year, a vision document was adopted by the two nations. Increasing the financial connectivity was a key part of it. A detailed discussion was also held with Mauritius PM Pravind Jugnauth last year. I am confident that the two nations - Sri Lanka and Mauritius - would benefit from this,” the prime minister added.
Talking about digital infrastructure, PM Modi said,"Digital Public Infrastructure has brought about a revolutionary change in India. Even the smallest businessman in our smallest village is making digital payments because it has convenience as well as speed."
Earlier this month, France allowed Indian tourists visiting the iconic Eiffel Tower in Paris to buy tickets via UPI mechanism. France is the first European country to accept UPI payments. This UPI service will be extended to other tourism and retail merchants in the European nation.
Last year, an essential MoU was exchanged between the Reserve Bank of India and the Central Bank of UAE, aiming to interlink the payment and messaging systems of both countries. The MoU was also aimed at fostering seamless integration between India's Unified Payments Interface (UPI) and the UAE's Instant Payments Platform (IPP)
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