India’s Unified Payments Interface (UPI) services have recently expanded to Sri Lanka and Mauritius, offering easier and faster digital transactions for travelers. The launch event, attended virtually by Indian Prime Minister Narendra Modi and leaders from Mauritius and Sri Lanka, marks a significant step in digital connectivity.
According to the reports, The introduction of UPI services in Sri Lanka and Mauritius benefits Indian nationals traveling to these countries. It also enables Mauritians visiting India to utilize UPI for their payments. Moreover, in Mauritius, RuPay card services were introduced, allowing banks to issue cards for transactions in both countries.
This expansion signifies a milestone for India’s digital payment system, developed by the National Payments Corporation of India (NPCI). UPI, initiated in 2016, consolidates multiple bank accounts into a single mobile application, facilitating seamless fund routing and merchant payments. India’s initiative reflects its leadership in fintech innovation and digital infrastructure. The government emphasizes sharing its development experiences with partner countries. NPCI International Payments Limited (NIPL) collaborated with Lyra, a French expert in e-commerce, to extend UPI services to France, including iconic landmarks like the Eiffel Tower.
Furthermore,this initiative aligns with India’s vision to share fintech innovation globally. By enhancing digital connectivity and streamlining payment processes, the expansion of UPI services enhances financial inclusion and promotes economic growth in partner countries.