India's Unified Payment Interface (UPI) services were rolled out in Sri Lanka and Mauritius on Monday. Prime Minister Narendra Modi described it as linking historic ties with modern digital technology.
India's Unified Payment Interface (UPI) services were rolled out in Sri Lanka and Mauritius on Monday. Prime Minister Narendra Modi described it as linking historic ties with modern digital technology.
Prime Minister Modi, his Mauritian counterpart Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe virtually attended a launching ceremony of India's RuPay card services in Mauritius.
In his remarks, Modi hoped the new fintech services would help the two nations and said the UPI is implementing "new responsibilities of uniting partners with India."
He reportedly said, "Today is a special day for the three friendly countries of the Indian Ocean Region as we are linking our historic ties with modern digital technology."
"I believe that Sri Lanka and Mauritius will benefit from the UPI system," Modi added.
The prime minister said digital public infrastructure has brought about a revolutionary change in India. He also highlighted India's focus on its "neighbourhood first policy."
"Be it a natural disaster, health-related, economic, or supporting on the international stage, India has been the first responder, and will continue to be so," he said.
The launch of the Indian services in Sri Lanka and Mauritius came amid New Delhi's increasing bilateral economic ties with the two countries.
The move enables the availability of UPI settlement services for Indian nationals traveling to Sri Lanka and Mauritius, as well as for Mauritian nationals travelling to India.
Developed by the National Payments Corporation of India (NPCI), UPI is an instant real-time payment system to facilitate inter-bank transactions through mobile phones.
RuPay is a global card payment network from India, with wide acceptance at shops, ATMs, and online.