After France, UPI goes live in Sri Lanka and Mauritius
India's Unified Payments Interface (UPI) now works in Sri Lanka and Mauritius. PM Narendra Modi jointly inaugurated UPI services with Sri Lanka President Ranil Wickremesinghe and Mauritius Prime Minister Pravind Jugnauth via video conference. Earlier this month, UPI services went live in France, with the Eiffel Tower becoming the first French merchant to adopt the payment system. The move is part of India's ongoing efforts to promote the use of Indian rupee and its payment systems on a global scale.
RuPay card services will be introduced in Mauritius
The launch of UPI in Sri Lanka and Mauritius will benefit a wide cross-section of people through a faster and seamless digital transaction experience and enhanced digital connectivity between the countries. With UPI services available, Indian nationals traveling to Sri Lanka and Mauritius, as well as citizens from the two countries upon visiting India, will enjoy smoother transaction experience. Additionally, India's RuPay card services will be introduced in Mauritius, allowing Mauritian banks to issue cards using the RuPay payment system.
Global push for rupee payments and settlement systems
India has been actively promoting the use of rupee and its payment systems worldwide. In July 2022, the Reserve Bank of India (RBI) unveiled a mechanism for settling global trade in rupees. India has also inked agreements with countries like the UAE and Singapore to connect UPI with their respective fast-payment systems. Talks are underway with Indonesia and nations from Latin America and Africa to further expand the reach of India's payment systems.
