look news india
New Delhi: A large number of Indians live in the United Arab Emirates and other Gulf countries. Also, a large number of Indian tourists visit these countries. Now it will be very easy for these tourists to make payments there. Actually, now payments can be made easily through UPI (QR-based Unified Payments Interface (UPI) in the Middle Eastern country United Arab Emirates (UAE). For this, NPCI International Payments Limited (NIPL), the international branch of National Payments Corporation of India, has partnered with Network International, a large digital commerce company in the Middle East and Africa.
How will payment be made?
Ritesh Shukla, CEO of NPCI International, says that now Indian travelers or NRIs in UAE will be able to make Unified Payments Interface (UPI) payments through QR code through point of sale machines. He says that the increasing acceptance of UPI payments among UAE merchants will not only be convenient for Indian travelers, but it will also promote innovative digital payment solutions internationally.
Millions of Indians reach there
The number of Indian travelers in the Gulf Cooperation Council (GCC) is estimated to reach 98 lakh. This year, about 53 lakh Indians are expected to reach the UAE alone. The Government of India, Reserve Bank of India (RBI) and NPCI International are working together to promote UPI on the global platform. Now that the UPI payment system is working there, it will become even more convenient for Indians.
UPI works in many countries outside India
At present, outside India, UPI can be used for payments in Nepal, Sri Lanka, Mauritius, UAE, Singapore, France and Bhutan. Due to the ease of digital payment through UPI, the number of transactions through it is increasing year after year.
Billions of transactions are happening
According to NPCI data, the number of transactions on the UPI platform in June was 13.9 billion. It has seen a growth of 49 percent on an annual basis. During this period, the average number of transactions per day through UPI was 463 million and the average transaction amount was Rs 66,903 crore per day. The reason for the increase in UPI transactions is the linking of RuPay credit card to UPI and the launch of UPI in foreign countries as well.
