UPI payment services launched in for Sri Lanka

 In Sri Lanka, India's Unified Payments Interface (UPI) trading through LankaQR was officially launched at a virtual launch on Monday, February 12th.

The real-time payment system aims to improve digital payments for Indian tourists in Sri Lanka.

India's instant payments technology Unified Payments Interface (UPI) service was launched simultaneously in Sri Lanka and Mauritius on Monday in the virtual presence of Indian Prime Minister Narendra Modi, Sri Lankan President Ranil Wickremesinghe and Mauritian Prime Minister Pravind Jugnauth. It was done.

According to the President's Media Department (PMD), the initiative, led by National Payments Corporation of India (NPCI), International Payments Limited and Lankapay Private Limited, will rapidly expand with 10,000 merchants using UPI payments. It is said that it is expected to be approved soon. start.

By March 2024, this number will reach 65,000 people and provide seamless payment solutions to Indian tourists, the PMD reported. India's Ministry of External Affairs announced on Sunday (February 11) that the Unified Payments Interface (UPI) service and RuPay card service will be launched in Sri Lanka and Mauritius through a virtual ceremony on Monday, February 12.

“Indian Prime Minister Narendra Modi, Sri Lankan President Ranil Wickremesinghe and Mauritius Prime Minister Pravind Jugnauth will witness the launch of Unified Payments Interface (UPI) service and RuPay card service in Sri Lanka and Mauritius on February 12th It is scheduled in Mauritius at 1 pm via video conferencing,” India's Ministry of External Affairs (MEA) said.

UPI is a real-time payment system developed by the National Payments Corporation of India (NPCI) to facilitate interbank transactions through mobile phones. Like Visa and Mastercard, RuPay is a global card payment network originating from India and is widely accepted in stores, ATMs, and online platforms.

The launch of Indian services in Sri Lanka and Mauritius comes against the backdrop of New Delhi's growing bilateral economic ties with the two countries, providing access to Indians traveling to Sri Lanka and Mauritius, as well as Indians affected by Mauritius. You will be able to use the UPI billing service. Citizens traveling to India.

"India has emerged as a leader in fintech innovation and digital public infrastructure. The Prime Minister placed great emphasis on sharing our development experience and innovation with partner countries," the statement said.