Indians can now make payments using BHIM UPI in UAE
By MYBRANDBOOK
NPCI International Payments Ltd (NIPL), the international arm of National Payments Corporation of India (NPCI), has partnered with NeoPay, a payments subsidiary of UAE’s Mashreq Bank. NIPL and NEOPAY partnered last year to create the acceptance infrastructure in the UAE.
The agreement will allow Indian travellers in the UAE to make payments using UPI on the company’s terminals across the country. This partnership will play a key role in transforming the P2M payment experience for Indian travellers in the UAE.
This will make payments in UPI seamless for Indian travellers as it will become as easy and quick as they are in India. It will be mandatory for users to have a bank account in India with UPI enabled on it. The users will also need an application, like BHIM, to make UPI payments.
Commenting on the tie up, Ritesh Shukla, CEO, NIPL said, “NIPL is consistently working towards simplifying digital payments and driving digital public goods across the globe with our cutting-edge solutions. We are dedicated to building a vast global acceptance network for UPI to ensure seamless user experiences when it comes to payments.”
Vibhor Mundhada, CEO, NEOPAY said, “Our partnership with NIPL is further evidence of our commitment to leverage the latest cutting-edge technology to provide innovative payment solutions for our customers and allowing them to take full advantage of the thriving digital economy.”
The UAE arrangement only allows for Indians to make payments. UPI is an instant real-time payment system developed by NPCI for facilitating inter-bank transactions. Globally, UPI is accepted in Nepal, and is likely to go live in Singapore later this year. Earlier this year, Bhutan also launched a BHIM-UPI based payment service for digital transactions.
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