Thursday, January 16, 2025
NPCI International Payments Limited (NIPL), the global division of the National Payments Corporation of India (NPCI), has teamed up with Magnati, a leading payment solutions provider in the Middle East, to expand Unified Payments Interface (UPI) acceptance across the UAE. This strategic collaboration will introduce UPI-enabled QR code payments at Magnati’s point-of-sale (POS) terminals, ensuring a smooth and convenient payment experience for Indian travelers in the UAE. Initially, the focus will be on facilitating UPI payments at Dubai Duty Free, a key destination for Indian tourists, with plans to extend the service to retail, hospitality, transportation, and supermarkets in the future.
Currently, UPI payments are available at NEOPAY terminals, Al Maya Supermarkets, and LuLu Hypermarkets, with further integration planned for tourism-related services. Renowned as one of the most efficient real-time payment systems globally, UPI handled 16 billion transactions in December 2024 alone. With more than 12 million Indians traveling to Dubai and the UAE each year, this initiative empowers UAE merchants to cater to the rising demand from Indian visitors.
UPI payments are now available in seven countries, including Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, France, and the UAE. NIPL aims to expand this network by introducing UPI acceptance in 4–6 more countries by 2025, with a focus on regions like Qatar, Thailand, and Southeast Asia. Alongside expanding its reach, NIPL is actively educating merchants and consumers in existing markets and collaborating with Indian banks to simplify international UPI transactions.
Beyond growing UPI’s global presence, NIPL is assisting nations such as Peru, Namibia, and Trinidad and Tobago in creating their own real-time payment systems inspired by UPI’s proven framework. Since its establishment in April 2020, NIPL has been dedicated to revolutionizing payments on a global scale, offering expertise in technology, licensing, and consultancy while delivering innovative solutions to support international businesses.
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