NPCI: After making its place in every household of India, our UPI system is now going to go global. For this, talks are being held with many countries of Africa and South America. Also, NIPL, the foreign company of NPCI that manages UPI, has also signed an agreement with the central banks of Peru and Namibia to develop a system like UPI.
UPI launch in Peru and Namibia possible in 2027
NPCI International Payments Ltd CEO Ritesh Shukla said on Tuesday that we are ready to give the blueprint of Unified Payments Interface to many countries in Africa and South America. Also, UPI can be launched in Peru and Namibia in 2027. NPCI (National Payments Corporation of India) is the regulatory body of retail payment system in the country. It runs UPI in the country. There were 15 billion UPI transactions in August.
NIPL was created to take UPI to foreign countries
NPCI formed NIPL to take India’s UPI abroad. According to a report, NIPL is currently in talks with 20 countries in Africa and South America regarding UPI. According to Ritesh Shukla, our deal with the central banks of Peru and Namibia has been done earlier this year. These banks can launch their own UPI-like system by the end of 2026 or early 2027.
NIPL will increase its employees by next year
Quoting sources, the Business Standard report said that serious talks have been held with Rwanda regarding UPI. However, Ritesh Shukla and the Bank of Rwanda refused to say anything clear about this. According to Ritesh Shukla, NIPL is also tying up with real time payment systems of other countries. These include Singapore’s PayNow. We have already made 7 such alliances. NIPL currently has 60 members. Now this team will be expanded by March 2025. Currently, some employees of the company are in Singapore and Middle East countries.
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