The international arm of the National Payment Corporation of India, NPCI International Payments Ltd (NIPL), declared last week that India’s BHIM UPI can now be used at NEOPAY terminals all over the UAE.
This step came after Nepal had adopted the unified payment interface for digital transactions a month ago.
NIPL stated that “This move will empower millions of Indians who travel to the UAE, to conveniently and safely make payments using BHIM UPI”.
To make the acceptance infrastructure across the UAE, the NEOPAY(the payment subsidiary of Mashreq bank) and NIPL decided to collaborate.
Indian travellers to UAE can now make seamless transactions through BHIM UPI around NEOPAY enabled merchant stores and shops.
For Indian tourists in the UAE, this collaboration will go a long way in changing the P2M payment experience.
The statement further added that implementing BHIM UPI in the UAE is a step forward in providing a significant boost to online payments in the country.
CEO of NIPL, Ritesh Shukla, while commenting on the tie-up, said, “NIPL is continuously working towards simplifying digital payments and driving digital public goods across the world with our cutting-edge solutions. We are committed to creating a vast global acceptance network for UPI to assure seamless user experiences regarding payments.”
Meanwhile, the CEO of NEOPAY, Vibhor Mundhada, said, “Our partnership with NIPL is further proof of our dedication to leveraging the latest cutting-edge technology to provide innovative payment solutions for our consumers and allow them to take full benefit of the thriving digital economy.”
The National Payments Corporation of India made an instant real-time payment system known as UPI to facilitate inter-bank payments.
The mobile-based transactions have become one of the most accessible forms of online payments. In the Economic year 2022 (FY22), UPI facilitated 45.6 billion transactions worth $1 trillion, making it the world’s best performing real-time payment eco-system.
Earlier this year, Bhutan also undertook a BHIM-UPI based payment service for online transactions, as per the government notification.