upi: Geopolitics is driving UPI’s bid to go global. Here are the game plan and the challenges.

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V Muraleedharan, Union Minister of State for External Affairs & Parliamentary Affairs, India visited Oman Investment Authority and met Executive President, H.E. Abdulsalam Al Murshidi; image credit: Twitter

Synopsis

India wants to mitigate the risks of a financial or geopolitical situation in which traditional payment channels come under pressure. For this, NIPL is zooming in on countries with a high flow of Indian tourists, or those that have a big diaspora sending remittances. However, consumer adoption and banks’ willingness to join the project will pose challenges.

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upi: Geopolitics is driving UPI’s bid to go global. Here are the game plan and the challenges.


V Muraleedharan, Union Minister of State for External Affairs & Parliamentary Affairs, India visited Oman Investment Authority and met Executive President, H.E. Abdulsalam Al Murshidi; image credit: Twitter

Synopsis

India wants to mitigate the risks of a financial or geopolitical situation in which traditional payment channels come under pressure. For this, NIPL is zooming in on countries with a high flow of Indian tourists, or those that have a big diaspora sending remittances. However, consumer adoption and banks’ willingness to join the project will pose challenges.

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The National Payments Corporation of India (NPCI) recently entered into a partnership with French payments-transactions firm Worldline to enable Indian digital-payment modes in Europe. This includes point-of-sale (POS) payments through RuPay cards and QR code-based payments for UPI transactions. Over the last couple of months, NPCI has partnered with banks or payment companies in several countries such as Oman, Saudi Arabia, France, and the UK

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Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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