🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

After France, Now Sri Lanka and Mauritius To Get UPI; RuPay Card Connectivity - StartupNews.fyi

Startup News FYI

Startup News FYI · 1y ago

After France, Now Sri Lanka and Mauritius To Get UPI; RuPay Card Connectivity - StartupNews.fyi

Sri Lanka and Mauritius are joining the list of countries that will enable the Indian digital payment system, Unified Payments Interface (UPI), with UPI services set to be launched in both countries. Additionally, Mauritius will also see the launch of RuPay card services. This move will allow Indian nationals travelling to Sri Lanka and Mauritius, as well as Mauritian nationals travelling to India, to make use of UPI settlement services. The extension of RuPay card services in Mauritius will facilitate the usage of RuPay cards for settlements in both India and Mauritius.

Related News

India Unveils RuPay Card In Maldives Amid Push To Strengthen Bilateral Ties

Inc42 · 9m ago

India Unveils RuPay Card In Maldives Amid Push To Strengthen Bilateral Ties

Here are the bullet points: - India introduces RuPay card in Maldives during President Muizzu's visit - Aim is to boost financial cooperation and convenience for tourists and residents - RuPay card is now accepted in 185 countries and territories - India expands its digital payment systems globally - India has already expanded UPI to countries like Sri Lanka, Mauritius, and UAE - Reflects growing influence in global fintech sector.

Now, UPI To Be Linked With UAE’s Instant Payments Platform AANI

Inc42 · 1y ago

Now, UPI To Be Linked With UAE’s Instant Payments Platform AANI

The Unified Payments Interface (UPI) will now be linked with the United Arab Emirates' (UAE) instant payments platform AANI, facilitating seamless cross-border transactions between the two countries. This agreement was signed during Prime Minister Narendra Modi's visit to the UAE, where he also launched RuPay card services and signed agreements to link domestic debit/credit cards - RuPay from India and JAYWAN from the UAE. The extension of UPI services in Sri Lanka, Mauritius, and France, along with the large Indian expatriate community in the UAE, is expected to enhance digital transactions for Indian nationals globally.

UAE mein UPI karo: PM Modi launches UPI, Rupay services in Abu Dhabi

IndianStartupNews

IndianStartupNews · 1y ago

UAE mein UPI karo: PM Modi launches UPI, Rupay services in Abu Dhabi

Prime Minister Narendra Modi launched UPI (Unified Payments Interface) and RuPay services in Abu Dhabi, enabling easy money transfers between India and the UAE. This move is part of India's plan to extend its UPI payment system globally, following its successful adoption within the country. The UPI system has been widely used in India, especially during the COVID-19 pandemic. Various countries, including Sri Lanka, Mauritius, Bhutan, France, UAE, Oman, Singapore, and potentially Nepal, have already adopted or are planning to adopt UPI payments.

NPCI to set up 5,000-person R&D centre, establish global headquarters in Mumbai

Economic Times

Economic Times · 4m ago

NPCI to set up 5,000-person R&D centre, establish global headquarters in Mumbai

The National Payments Corporation of India (NPCI) is establishing a 5,000-person research and development center as part of its global expansion strategy. The Mumbai Metropolitan Region Development Authority is allocating a plot for NPCI’s new global headquarters. Currently, UPI functions in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE, with plans to expand to 20 countries by FY29. UPI processed 16.9 billion transactions in January, amounting to Rs 23.48 lakh crore.

Now, Indians Can Pay Using UPI In Nepal

Inc42 · 1y ago

Now, Indians Can Pay Using UPI In Nepal

The National Payments Corporation of India (NPCI) has announced that the Unified Payment Interface (UPI) is now live in Nepal, following a signed pact between NPCI International Payments Ltd (NIPL) and Fonepay Payment Service. The partnership will enable Indian consumers to make instant, secure, and convenient UPI payments across various stores in Nepal, facilitating QR-code-based person-to-merchant transactions between the two countries. This digital connection aims to strengthen people-to-people ties and promote economic prosperity in the region. Similar cross-border UPI deployments have been made in countries such as Sri Lanka, Mauritius, Bhutan, UAE, and Canada.

UPI integration gives a fillip to RuPay credit cards distribution

Economic Times

Economic Times · 1y ago

UPI integration gives a fillip to RuPay credit cards distribution

Around 30% of new credit cards in India are now issued on the RuPay network, following the linking of Unified Payments Interface (UPI) with RuPay credit cards. Prior to this integration, RuPay cards accounted for only 5% of new credit card issuances. Large banks are actively issuing RuPay credit cards to meet customer demand, including co-branded cards running on the RuPay platform. However, transaction growth has not kept pace with card issuance. Some banks are concerned about losing credit card customers to popular UPI payment applications, which may cross-sell additional financial products to customers.

Rupay credit card payments through UPI hits the MDR speedbreaker

Money Control

Money Control · 1y ago

Rupay credit card payments through UPI hits the MDR speedbreaker

Rupay credit card transactions on UPI have increased from Rs 50-60 crore daily in May to Rs 100 crore daily in October, with Rupay's share of new credit card issuances growing to 25%. However, around 15-20% of merchants have requested their banks to disable Rupay credit card payments on UPI due to the higher merchant discount rate (MDR). The fear of lower or zero MDR for Rupay credit cards on UPI has led to a scramble among banks to distribute more Rupay credit cards to safeguard their interchange fees.

NPIL Signs MoU With Greece’s Eurobank To Facilitate Foreign Inward Remittances To India

Inc42 · 1y ago

NPIL Signs MoU With Greece’s Eurobank To Facilitate Foreign Inward Remittances To India

India's National Payments Corporation of India (NPCI) International Payments Limited (NIPL) has signed an MoU with Greece's Eurobank, enabling cross-border payments to India through the Unified Payments Interface (UPI). The collaboration will facilitate foreign inward remittances from Greece to India, offering streamlined payment solutions to the Indian diaspora in Greece. NIPL and Eurobank will handle fund settlement, reconciliation, and dispute resolutions in their respective jurisdictions. Greece joins countries such as Sri Lanka, Mauritius, Bhutan, Nepal, the UAE, and Canada in adopting UPI for cross-border payments.

UPI transactions cross 11 Bn for second month in November

Entrackr

Entrackr · 1y ago

UPI transactions cross 11 Bn for second month in November

In November, India's Unified Payments Interface (UPI) recorded 11.24 billion transactions worth Rs 17.40 lakh crore (Rs 17.40 trillion), a slight dip from the previous month. This marks the second time UPI crossed the 11 billion transaction mark in a month. PhonePe emerged as the leading contributor to UPI transactions with over 5 billion transactions in October. Google Pay and Paytm followed with 4.13 billion and 1.41 billion transactions respectively. UPI has expanded its operations globally, entering countries like France, Bhutan, Nepal, Singapore, and soon Sri Lanka and the UAE. NPCI has also mandated third-party UPI apps to deactivate inactive UPI IDs and numbers.

Here's how you can now make UPI payments via PhonePe in Sri Lanka

Livemint

Livemint · 1y ago

Here's how you can now make UPI payments via PhonePe in Sri Lanka

PhonePe has partnered with LankaPay to enable its users to make payments using UPI in Sri Lanka. Through this collaboration, PhonePe users can utilize UPI to make secure and convenient payments across the LankaPay QR merchants. The transactions will be facilitated by the UPI and LankaPay National Payment Network, allowing users to make quick payments without carrying cash or worrying about currency conversion. This partnership aims to provide Indian tourists with a familiar and secure payment method while in Sri Lanka. PhonePe currently has over 520 million registered users and processes over 230 million daily transactions.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Download the medial app to read full posts, comements and news.