July 24, 2024
UPI Payments to Launch in UAE, Facilitating Indian Travelers
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UPI Payments to Launch in UAE, Facilitating Indian Travelers

Jul 4, 2024

In a significant move towards globalizing India’s digital payment platform, UPI (Unified Payments Interface) will soon be available in the UAE. NPCI International Payments Limited has forged a partnership with Network International, a prominent digital commerce company in the Middle East and Africa, to enable UPI payments through QR codes at Point of Sale machines.

This development aims to enhance convenience for Indian travelers and NRIs in the UAE, allowing them to make seamless transactions using UPI, a widely adopted payment system in India. Ritesh Shukla, CEO of NPCI International, emphasized that this initiative will not only benefit Indian travelers but also foster innovative digital payment solutions on an international scale.

According to estimates from NPCI, the number of Indian travelers in the Gulf Cooperation Council (GCC) is projected to reach 98 lakh by 2024, with around 53 lakh Indians expected to visit the UAE alone. This underscores the strategic importance of expanding UPI’s reach beyond India’s borders.

UPI’s acceptance has been steadily growing globally, with official recognition in several countries including Nepal, Sri Lanka, Mauritius, Singapore, France, and Bhutan. The initiative is part of collaborative efforts by the Government of India, the Reserve Bank of India, and NPCI International to promote UPI as a global standard for digital payments.

Recent data from NPCI reveals a robust growth in UPI transactions, which surged by 49% year-on-year in June, totaling 13.9 billion transactions. This increase has been attributed to initiatives such as linking RuPay credit cards with UPI and the expansion of UPI services internationally.

The launch of UPI in the UAE marks a significant milestone in India’s digital payment ecosystem, promising enhanced convenience and efficiency for Indian travelers and residents abroad.

For further details, visit NPCI’s official website.

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