PM Modi to Launch UPI and RuPay Services in Sri Lanka and Mauritius

Prime Minister Narendra Modi, alongith Sri Lankan President Ranil Wickremesinghe and Mauritian Prime Minister Pravind Jugnauth, will inaugurate Unified Payment Interface (UPI) and RuPay card services in Sri Lanka and Mauritius. Learn about India’s fintech leadership and the benefits of digital connectivity between the countries.

UPI and RuPay Services in Sri Lanka and Mauritius

Prime Minister Narendra Modi, along with Sri Lankan President Ranil Wickremesinghe and Mauritian Prime Minister Pravind Jugnauth, is set to inaugurate Unified Payment Interface (UPI) and RuPay card services in Sri Lanka and Mauritius, marking a significant milestone in digital connectivity between the countries.

Importance of UPI and RuPay Services:

India has emerged as a leader in fintech innovation, with UPI and RuPay contributing to the country’s digital public infrastructure. These services provide a faster and seamless digital transaction experience, benefiting a wide cross-section of people and enhancing digital connectivity between India, Sri Lanka, and Mauritius.

Launch Details and Benefits:

The launch will enable the availability of UPI settlement services for Indian nationals traveling to Sri Lanka and Mauritius, as well as for Mauritian nationals traveling to India. Additionally, the extension of RuPay card services in Mauritius will facilitate card-based transactions both in India and Mauritius, further promoting economic ties between the nations.

Previous Agreements and Initiatives:

India and Sri Lanka had previously inked an agreement for UPI acceptance during Wickremesinghe’s visit to New Delhi in July 2023, demonstrating the commitment to enhancing digital cooperation. Moreover, initiatives like PhonePe’s support for cross-border UPI payments have expanded the reach of UPI internationally, benefiting the Indian diaspora abroad.

PhonePe’s Role and UPI International:

PhonePe, India’s largest UPI app, played a pivotal role in integrating UPI International, allowing users to make cross-border UPI payments in countries like the UAE, Singapore, Mauritius, Nepal, and Bhutan. Rahul Chari, CTO and co-founder of PhonePe, highlighted the significance of this launch in transforming payment experiences for Indians traveling overseas.

Conclusion:

The launch of UPI and RuPay services in Sri Lanka and Mauritius underscores India’s commitment to fostering digital connectivity and promoting financial inclusion in the region. With the support of innovative initiatives like UPI International, the adoption of digital payment systems is poised to grow, facilitating seamless transactions and enhancing economic ties between nations.

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