TerraPay partners with NPCI International
January 28, 2022
In a strategic move to further strengthen the payment solution business, TerraPay, a main international payment foundation organization has signed a Memorandum of Understanding (MOU) with NPCI International Payments Limited (NIPL), the International arm of National Payments Corporation of India (NPCI). This relationship with NIPL will allows Indians with a active UPI ID to get constant, international payments into their bank accounts through TerraPay’s mobile and secure payments technology.
Unified Payments Interface (UPI) is an instant real time payment system created by NPCI working with between bank distributed and individual to-merchant transactions. Brought together Payments Interface (UPI) has ended calendar year 2021 (CY21) with record high transactions, both in volume and worth terms.
As indicated by the information delivered by the NPCI, for 2021, UPI recorded 38.74 Billion transactions, worth USD 954.58 Billion, making it the best performing ongoing payment eco-system on the globe. The expected joint effort will presently additionally enable UPI clients to use TerraPay’s agile interoperable payments infrastructure to receive payments on a completely directed, secure, adaptable, and effective channel.
Globally, TerraPay owns payouts into 4.5Bn+ ledgers and 1.5Bn+ mobile wallets. With the vision to foster financial inclusion, residents, Poi’s, Indian diaspora will actually want to send money to India by utilizing TerraPay’s agile, transparent and real time payment channel.