NPCI International Payments Ltd partners with Network International to introduce UPI payments in the UAE.
QR Code-Based UPI Payments
The introduction of UPI payments will enable QR code-based transactions through Network’s point-of-sale (POS) terminals in the UAE. This initiative aims to progressively roll out UPI acceptance for retail use, providing seamless and secure transactions for Indian tourists and Non-Resident Indians (NRIs).
Enhancing Payment Experience
Ritesh Shukla, CEO of NPCI International, expressed that the expansion of UPI payment acceptance across merchants in the UAE will not only offer Indian travelers a familiar payment experience but also promote the use of innovative digital payment solutions internationally.
Projected Indian Tourist Arrivals
The Gulf Cooperation Council (GCC) countries anticipate 9.8 million Indian tourist arrivals in 2024, with the UAE expecting 5.29 million arrivals from India. This projection underscores the significance of introducing UPI payments in the region.
Global Acceptance of UPI
The government, the Reserve Bank of India, and NPCI International have been actively advocating for global acceptance of UPI. This initiative involves partnering with various countries to facilitate faster digital payments. Notably, UPI is now officially accepted in Nepal, Sri Lanka, Mauritius, UAE, Singapore, France, and Bhutan.