<p>India's revolutionary Unified Payment Interface (UPI) services were officially rolled out in Sri Lanka and Mauritius during a virtual ceremony attended by Prime Minister Narendra Modi and his counterparts&nbsp;Mauritian PM Pravind Jugnauth and Sri Lankan&nbsp;President Ranil Wickremesinghe on Monday (Feb 12) afternoon.&nbsp;</p>

<p>The launch of the&nbsp;digital payment network ensures that both countries can access the ease of using UPI to settle real-time transactions. Additionally, Indian nationals travelling to the two countries will not have to rely on other means of payment which are often cumbersome.&nbsp;&nbsp;</p>

<p>"Today is a special day for three friendly countries in the Indian Ocean region. Today we are connecting our historical relations in a modern digital way. This is proof of our commitment to the development of our people,"&nbsp;said PM Modi during the ceremony.&nbsp;</p>

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<p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | First UPI transaction conducted by an Indian national in Mauritius. <a href="https://t.co/AUoxvEvqqG">pic.twitter.com/AUoxvEvqqG</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1756946742237344155?ref_src=twsrc%5Etfw">February 12, 2024</a></blockquote>
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<p>"Through Fintech connectivity, not only cross-border transactions but also cross-border connections will be strengthened. India's Unified Payments Interface i.e. UPI is now performing a new responsibility - Uniting Partners with India," he added.&nbsp;</p>

<p>Apart from UPI, the expansion of RuPay card services in Mauritius would allow Mauritian banks to issue cards using the RuPay system. The Indian government introduced RuPay cards in 2012&nbsp;to break the duopoly of Visa and Mastercard.&nbsp;</p>

<p>The launch of UPI in the two Indian Ocean nations comes days after the service became officially available at the iconic Eiffel Tower in Paris, France.&nbsp;&nbsp;</p>

<p><a href="https://www.wionews.com/videos/indias-unified-payments-interface-available-in-sri-lanka-from-february-12-689328"><strong>Watch |&nbsp;India's Unified Payments Interface available in Sri Lanka from February 12</strong></a></p>

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<h2><strong>UPI's introduction and rise</strong></h2>

<p>It was in 2016 that the National Payments Corporation of India (NPCI) introduced the revolutionary UPI system.&nbsp;The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts.</p>

<p>PhonePe and PayTM were some of the first platforms to integrate UPI into its system. A year later, several competitors followed suit and since then, UPI has transformed into a behemoth that even foreign nations are looking to get their hands on.</p>

<p><strong>Also read:&nbsp;<a data-jsarwt="1" data-usg="AOvVaw1WaG0v1yrZd3vEbQR_FRWH" data-ved="2ahUKEwjOroTXpaOEAxXLZmwGHbayBVgQxfQBKAB6BAgUEAE" href="https://www.wionews.com/business-economy/india-rbi-hiking-upi-transaction-limits-gets-an-industry-thumbs-up-668097" jsname="YKoRaf">India: RBI hiking UPI transaction limits gets an industry thumbs up</a></strong></p>

<p>One of the biggest selling points of UPI is its open architecture which allows seamless integration. Users can link their bank accounts directly and initiate transactions effortlessly.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>


India's revolutionary Unified Payment Interface (UPI) services were officially rolled out in Sri Lanka and Mauritius during a virtual ceremony attended by Prime Minister Narendra Modi and his counterparts Mauritian PM Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe on Monday (Feb 12) afternoon.

India's revolutionary Unified Payment Interface (UPI) services were officially rolled out in Sri Lanka and Mauritius during a virtual ceremony attended by Prime Minister Narendra Modi and his counterparts Mauritian PM Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe on Monday (Feb 12) afternoon. The launch of the digital payment network ensures that both countries can access the ease of using UPI to settle real-time transactions. Additionally, Indian nationals travelling to the two countries will not have to rely on other means of payment which are often cumbersome. "Today is a special day for three friendly countries in the Indian Ocean region. Today we are connecting our historical relations in a modern digital way. This is proof of our commitment to the development of our people," said PM Modi during the ceremony. #WATCH | First UPI transaction conducted by an Indian national in Mauritius. pic.twitter.com/AUoxvEvqqG — ANI (@ANI) February 12, 2024 × "Through Fintech connectivity, not only cross-border transactions but also cross-border connections will be strengthened. India's Unified Payments Interface i.e. UPI is now performing a new responsibility - Uniting Partners with India," he added. Apart from UPI, the expansion of RuPay card services in Mauritius would allow Mauritian banks to issue cards using the RuPay system. The Indian government introduced RuPay cards in 2012 to break the duopoly of Visa and Mastercard. The launch of UPI in the two Indian Ocean nations comes days after the service became officially available at the iconic Eiffel Tower in Paris, France. Watch | India's Unified Payments Interface available in Sri Lanka from February 12 × UPI's introduction and rise It was in 2016 that the National Payments Corporation of India (NPCI) introduced the revolutionary UPI system. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts. PhonePe and PayTM were some of the first platforms to integrate UPI into its system. A year later, several competitors followed suit and since then, UPI has transformed into a behemoth that even foreign nations are looking to get their hands on. Also read: India: RBI hiking UPI transaction limits gets an industry thumbs up One of the biggest selling points of UPI is its open architecture which allows seamless integration. Users can link their bank accounts directly and initiate transactions effortlessly. (With inputs from agencies)

India's UPI services formally launched in Sri Lanka and Mauritius; PM Modi attends virtual ceremony

<p>Indian Prime Minister Narendra Modi is all set to launch the country’s premium Unified Payment Interface (UPI) services in neighbouring Sri Lanka and Mauritius on Monday (Feb 12). The ceremony is scheduled to take place at 1pm IST where the Indian leader will connect virtually with President of Sri Lanka Ranil Wickremesinghe and Prime Minister of Mauritius Pravind Jugnauth.</p>

<p>In a statement released on Sunday, India’s Ministry of External Affairs (MEA) said, “Given India’s robust cultural and people-to-people linkages with Sri Lanka and Mauritius, the launch will benefit a wide cross-section of people through a faster and seamless digital transaction experience and enhance digital connectivity between the countries.”</p>

<h2><strong>Rupay card to be launched in Mauritius</strong></h2>

<p>The ceremony will also mark the launch of RuPay card services in Mauritius.</p>

<p><strong>Watch:&nbsp;UPI to be launched in Sri Lanka on 12th February: Sri Lanka Foreign minister Sabry</strong></p>

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<p>“The extension of RuPay card services in Mauritius will enable Mauritian banks to issue cards based on RuPay mechanism in Mauritius and facilitate usage of RuPay Card for settlements both in India and Mauritius,” the MEA said.</p>

<h2><strong>Sri Lankan leaders talk to WION</strong></h2>

<p>Earlier, top Sri Lankan ministers talked to WION&nbsp;and said the move was vital to revive Sri Lanka’s tourism sector. In an interview with WION’s principal diplomatic correspondent Sidhant Sibal, Sri Lankan Foreign Minister Ali Sabry said, “I think by next 12 the UPI payment gateway will be signed. And I think both our leaders will connect online. So hopefully with that UPI will be available in Colombo. So that will boost the tourism back in Sri Lanka again.”</p>

<p><strong>Also read:&nbsp;<a data-jsarwt="1" data-usg="AOvVaw1WaG0v1yrZd3vEbQR_FRWH" data-ved="2ahUKEwjOroTXpaOEAxXLZmwGHbayBVgQxfQBKAB6BAgUEAE" href="https://www.wionews.com/business-economy/india-rbi-hiking-upi-transaction-limits-gets-an-industry-thumbs-up-668097" jsname="YKoRaf">India: RBI hiking UPI transaction limits gets an industry thumbs up</a></strong></p>

<p>In a separate interview, Sri Lankan President Ranil Wickremesinghe also talked about the usage of Indian currency in bilateral trade. “We want to see the usage of Indian rupees in Sri Lanka. Have no issue at all,” he told WION.</p>

<p>When asked how Indian tourists helped the Sri Lankan economy, Wickremesinghe said, “Tourism helps our economy a lot and Indian tourists coming in have been good.” The president also confirmed that UPI will be “implemented” in Sri Lanka “soon.”</p>

<h2><strong>About UPI</strong></h2>

<p>Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts.</p>

<p><em>(With inputs from agencies)</em></p>


Indian Prime Minister Narendra Modi is all set to launch the country’s premium Unified Payment Interface (UPI) services in neighbouring Sri Lanka and Mauritius on Monday (Feb 12).

Indian Prime Minister Narendra Modi is all set to launch the country’s premium Unified Payment Interface (UPI) services in neighbouring Sri Lanka and Mauritius on Monday (Feb 12). The ceremony is scheduled to take place at 1pm IST where the Indian leader will connect virtually with President of Sri Lanka Ranil Wickremesinghe and Prime Minister of Mauritius Pravind Jugnauth. In a statement released on Sunday, India’s Ministry of External Affairs (MEA) said, “Given India’s robust cultural and people-to-people linkages with Sri Lanka and Mauritius, the launch will benefit a wide cross-section of people through a faster and seamless digital transaction experience and enhance digital connectivity between the countries.” Rupay card to be launched in Mauritius The ceremony will also mark the launch of RuPay card services in Mauritius. Watch: UPI to be launched in Sri Lanka on 12th February: Sri Lanka Foreign minister Sabry × “The extension of RuPay card services in Mauritius will enable Mauritian banks to issue cards based on RuPay mechanism in Mauritius and facilitate usage of RuPay Card for settlements both in India and Mauritius,” the MEA said. Sri Lankan leaders talk to WION Earlier, top Sri Lankan ministers talked to WION and said the move was vital to revive Sri Lanka’s tourism sector. In an interview with WION’s principal diplomatic correspondent Sidhant Sibal, Sri Lankan Foreign Minister Ali Sabry said, “I think by next 12 the UPI payment gateway will be signed. And I think both our leaders will connect online. So hopefully with that UPI will be available in Colombo. So that will boost the tourism back in Sri Lanka again.” Also read: India: RBI hiking UPI transaction limits gets an industry thumbs up In a separate interview, Sri Lankan President Ranil Wickremesinghe also talked about the usage of Indian currency in bilateral trade. “We want to see the usage of Indian rupees in Sri Lanka. Have no issue at all,” he told WION. When asked how Indian tourists helped the Sri Lankan economy, Wickremesinghe said, “Tourism helps our economy a lot and Indian tourists coming in have been good.” The president also confirmed that UPI will be “implemented” in Sri Lanka “soon.” About UPI Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts. (With inputs from agencies)

Indian PM Narendra Modi to launch UPI in Sri Lanka, Mauritius via virtual event

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India's UPI services formally launched in Sri Lanka and Mauritius; PM Modi attends virtual ceremony

Indian PM Narendra Modi to launch UPI in Sri Lanka, Mauritius via virtual event