NPCI To Help Countries In Africa & South America To Build UPI-Like Payments System

[ad_1]

SUMMARY Led by the National Payments Corporation of India’s international arm, NIPL, these initiatives aim for a launch by early 2027

Ritesh Shukla, CEO of NPCI International Payments Ltd (NIPL), said that the overseas arm of the National Payments Corporation of India (NPCI) is in talks with several nations and is close to finalising an agreement with one

NIPL has held talks with over 20 countries in Africa and South America to help them develop UPI-like systems.

India is reportedly engaging in discussions with countries in Africa and South America to help them build digital payment systems akin to its Unified Payments Interface (UPI).

Led by the National Payments Corporation of India’s international arm, NIPL, these initiatives aim for a launch by early 2027.

Ritesh Shukla, CEO of NPCI International Payments Ltd (NIPL), told Reuters that the overseas arm of the National Payments Corporation of India (NPCI) is in talks with several nations and is close to finalising an agreement with one.

The report added that NIPL, a division of NPCI focused on promoting India’s payment systems globally, has held talks with over 20 countries in Africa and South America to help them develop UPI-like systems.

Earlier this year, the NPCI also signed agreements with a number of countries, including Peru and Namibia, to develop UPI-like payments systems.

This comes as the Reserve Bank of India (RBI) has teamed up with the Bank for International Settlements (BIS) and central banks from four ASEAN nations to launch Project Nexus, a multilateral initiative aimed at facilitating retail cross-border payments.

Under the initiative, India’s UPI will be linked with the respective Fast Payment Systems (FPS) of Malaysia, the Philippines, Singapore, and Thailand to enable instant cross-border retail payments.

The development comes at a time when NPCI is reportedly considering raising the market share cap for Unified Payments Interface (UPI) apps from the proposed 30%. NPCI is contemplating allowing UPI third-party apps to exceed a 40% market share.

(The story will be updated soon)

[ad_1]

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66f3a64054c947f49c17b6d8881c2511&url=https%3A%2F%2Finc42.com%2Fbuzz%2Fnpci-to-help-countries-in-africa-south-america-to-build-upi-like-payments-system%2F&c=9496298697690762888&mkt=en-us Author : Publish date : 2024-09-24 17:51:00 Copyright for syndicated content belongs to the linked Source .

M	T	W	T	F	S	S
	1	2	3	4	5	6
7	8	9	10	11	12	13
14	15	16	17	18	19	20
21	22	23	24	25	26	27
28	29	30

NPCI To Help Countries In Africa & South America To Build UPI-Like Payments System

Vie L’Ven Resort & Residences Celebrates New Construction Milestones

Here’s how you can get free COVID tests in California — and when they’ll be available

Here’s how you can get free COVID tests in California — and when they’ll be available

Search for Chicago woman who went missing in the Bahamas expands: Police – ABC News

United Airlines Launches Year-Round Barbados Flights – TravelPulse

QBE Re bolsters Bermuda division with key appointment – Insurance Business America

Bolivia’s Catastrophic Stalemate – Wilson Center

Brazil refrains from responding to U.S. trade tariffs for now By Investing.com – Investing.com Australia

Increased scrutiny threatens British Virgin Islands and wealthy clients – Financial Times

Cayman Islands profile – BBC

RES expands in Chile with major solar projects cementing Latin America presence – BNamericas

Costa Rica will receive deported migrants from US – VOA – Voice of America English News

Cuba Stresses Commitment to Africa-Latin America Unity – cubanews.acn.cu

Categories

Archives