NPCI International expands UPI payments in UAE
This partnership will help Indian tourists and NRIs make transactions across Network International's extensive merchant network, including over 200,000 POS terminals and over 60,000 merchants.
National Payments Corporation of India's (NPCI) overseas arm has expanded Unified Payments Interface (UPI) adoption in the United Arab Emirates.
NPCI International Payments Ltd has partnered with Dubai-based payment company Network International to enable QR code-based UPI payments through the Network's POS terminals in the UAE and cross-border payments.
This partnership will help Indian tourists and NRIs make transactions across the Network's extensive merchant network, which includes over 200,000 POS terminals and over 60,000 merchants.
In a statement, NPCI International said that UPI acceptance will be rolled out progressively, covering a wide range of establishments from retail stores and dining outlets, as well as tourist and leisure attractions, including Dubai Mall and Mall of the Emirates.
“Our partnership with Network International will deepen UPI’s presence in the UAE. By growing UPI payment acceptance across merchants in the UAE, we are not only providing Indian travellers with a seamless and familiar payment experience but also promoting the use of innovative digital payment solutions internationally," said Ritesh Shukla, CEO of NPCI International, in a statement.
Earlier in March, fintech firm PhonePe said its users travelling to the UAE can make payments using UPI at the country's oldest privately owned bank Mashreq's NEOPAY Terminals. The collaboration was facilitated through Mashreq's partnership with NIPL.
Indian tourists are the top visitors to the UAE, especially Dubai. In 2022, a total of 1.84 million Indian tourists visited Dubai, the highest among all foreign nationalities. Additionally, there are around 3.554 million Indians currently residing in the country as of August 2023.
Edited by Suman Singh