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India launches UPI connectivity in Mauritius and Sri Lanka

By Gloria Mathias

February 13, 2024

  • Bhutan
  • Cross Border Remittances
  • Fintech APAC News
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NPCI, PPRO, UPI, India, UPI connectivity, Sri Lanka, Mauritius, Fintech Collaborations, Cross border remittances, India has forged alliance with Mauritius and Sri Lanka to launch the UPI and RuPay connectivity in the presence of Prime Minister of India, Narendra Modi, PM of Mauritius, Pravind Kumar Jugnauth and President of Sri Lanka Ranil Wickremesinghe.

Prime Minister Narendra Modi, along with the President of Sri Lanka and the Prime Minister of Mauritius, jointly inaugurated the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, and RuPay card services in Mauritius via video conferencing.

Prime Minister of Mauritius, Mr. Pravind Jugnauth informed that co-branded Rupay card will be designated as domestic card in Mauritius. The launch will facilitate the citizens of both countries.

PM Modi underlined FinTech connectivity will strengthen cross-border transactions and connections. “India’s UPI or United Payments Interface comes in a new role as- Uniting Partners with India.”

He further emphasized that digital public infrastructure has brought about a revolutionary change in India, where the smallest of vendors in the remotest of villages are transacting via UPI and making digital payments. Speaking about the convenience and speed of UPI transactions, the Prime Minister informed that more than 100 billion transactions took place via UPI last year worth Rs 2 lakh crores or 8 trillion Sri Lankan rupees or 1 trillion Mauritius rupees.

The Prime Minister expressed that connection with UPI will benefit Sri Lanka and Mauritius and digital transformation will get a boost, local economies will witness positive change and tourism will be promoted. “I am confident that Indian tourists will give priority to destinations with UPI. People of Indian origin living in Sri Lanka and Mauritius and students studying there will also get special benefits from it”, the Prime Minister added.

PM Modi expressed delight that after Nepal, Bhutan, Singapore, and UAE in the Gulf in Asia, now from Mauritius RuPay card is being launched in Africa. This will also facilitate the people coming to India from Mauritius. The need to buy hard currency will also reduce. The UPI and RuPay card system will enable real-time, cost-effective, and convenient payments in our own currency. In the coming time, we can move towards cross-border remittances i.e. P2P payment facility.

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