India’s Unified Payment Interface (UPI) services are set to be launched virtually in Sri Lanka and Mauritius on Monday. The launch event, scheduled for 1 PM, will be attended by Prime Minister Narendra Modi, Sri Lankan President Ranil Wickremesinghe, and Mauritian Prime Minister Pravind Jugnauth via video conferencing. Alongside the UPI services, RuPay card services will also be introduced in Mauritius during the event, as announced by the Ministry of External Affairs.
The UPI, developed by the National Payments Corporation of India, facilitates instant real-time payment transactions between banks through mobile phones. Additionally, RuPay is a widely accepted global card payment network originating from India, utilized at various establishments including shops, ATMs, and online platforms. India’s prowess in fintech innovation and digital infrastructure has positioned it as a leader in the field, with Prime Minister Modi emphasizing the importance of sharing the country’s development experiences and technological advancements with partner nations, according to the statement.
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