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NIPL and Network international sign pact for UPI payment system
November 19, 2021
The NPCI said its international arm NIPL and Global digital commerce enable Network International to have partnered for a mobile-based real-time payment system in the UAE.
Network International enables digital commerce across the Middle East and Africa. NPCI and NIPL have signed an MOU for partnership on acceptance of NIPL’s mobile-based real-time payment system, UPI, in the UAE, NPCI said in a release.
The proposed rollout of UPI mobile payment solutions on Network International’s merchant network in UAE is expected to commence in 2022 across the organization’s key retail merchant partner outlets. It will also be facilitating UPI payments in sectors.
NPCI said the partnership will benefit Indian travelers visiting UAE, with the travel restrictions getting relaxed between India and the UAE.
NPCI and UPI have become some of the most successful real-time payments systems worldwide, providing safety, and security in person to person & person to merchant transactions.
In 2020, UPI facilitated transactions worth USD 457 billion, which is equal to approx. 15% of India’s GDP.
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