Indian Users Can Now Pay UAE Merchants via UPI
The Indian Government's efforts to globalize the Unified Payments Interface (UPI) for swift digital transactions have expanded to the UAE. NPCI International Payments Limited has collaborated with Network International, a leading digital commerce entity in the Middle East and Africa, to facilitate this integration.
With this partnership, Indian visitors and NRIs in the UAE can now conduct payments using UPI via QR codes at Point of Sale (PoS) terminals. NPCI International CEO Ritesh Shukla emphasized that the rising adoption of UPI among UAE merchants will simplify transactions for Indian travelers and advance global digital payment innovations.
According to an NPCI release, the number of Indian travelers to the Gulf Cooperation Council (GCC) countries is expected to reach 9.8 million in 2024, with 5.3 million heading to the UAE alone.
The Indian Government, the Reserve Bank of India (RBI), and NPCI International are actively collaborating to promote UPI on an international scale. UPI is already officially accepted in Nepal, Sri Lanka, Mauritius, Singapore, France, and Bhutan.
June recorded 13.9 billion transactions on the UPI platform, representing a 49% increase compared to the previous year. The average daily transaction volume was 463 million, with a total daily transaction value of Rs 66,903 crore.
The surge in UPI transactions is attributed to several factors, including the integration of RuPay credit cards with UPI and the platform’s rollout in international markets. This growth aligns with India’s strategic vision to extend UPI's reach globally, enhancing the ease of digital payments for users across different countries.