Government of Japan is seriously considering joining India’s UPI payment system

Japanese Digital Minister Kono Taro announced on Thursday that the Japanese government is seriously considering joining India’s UPI (Unified Payments Interface) payment system. In an interview, Minister Taro expressed Japan and India’s efforts to promote digital cooperation.

He mentioned their interest in joining UPI and exploring mutual recognition of EID (electronic identification), aiming to enhance interoperability. Minister Taro also highlighted the establishment of a new framework on cross-border data flow by the G7 and expressed hope that India would participate.

Minister Taro praised India’s digital revolution, noting his surprise at the country’s rapid advancements in the sector. He regarded UPI as a highly convenient payment system that could enhance interoperability between governments and potentially become a cross-border payment standard.

The minister addressed the concerns and opportunities surrounding artificial intelligence (AI). He emphasized the need to regulate and combat the spread of fake news facilitated by AI technology. Minister Taro stressed the importance of democratic countries working together to mitigate risks and safeguard democracy from AI’s potential negative influence.

Regarding China’s alleged sponsorship of hacking activities, Minister Taro emphasized the need for caution and innovative approaches to minimize the impact of meddling by the Chinese dictatorship. He appreciated the cooperation between India, Japan, and the Quad (Quadrilateral Security Dialogue) and expressed his desire for collaboration between the two countries, particularly in the field of digital payments.

Minister Taro also stated that the Quad is expected to play a more significant role in global politics and emphasized the need to strengthen trust among the four countries involved. He expressed concern over China’s aggressive actions in the Indian subcontinent, including increased defense spending and violations of territorial waters. Minister Taro underscored the importance of the Quad in maintaining peace in East Asia.