US Treasury official commends India's UPI system for cross-border payment leadership
1 year, 2 months ago

US Treasury official commends India's UPI system for cross-border payment leadership

India TV News  

In a speech at Harvard Law School, Jay Shambaugh, Under Secretary of the US Treasury for International Affairs, highlighted the role of India's Unified Payments Interface in advancing bilateral ties with nations like Singapore and the United Arab Emirates. Cross-border payment innovations gaining traction Shambaugh also noted that several ASEAN countries aspire to interlink their fast payment systems on a multilateral scale, signifying a growing interest in cross-border payment innovations. This facilitates improved payment system connectivity and operational alignment along key corridors, ultimately enabling instant transfers and settlements across systems. Exploring the future of payments Shambaugh also highlighted that jurisdictions are simultaneously exploring the future landscape of money and payments, including experiments with cross-border Central Bank Digital Currencies and Distributed Ledger Technology -based payments. Jay Shambaugh praised India's UPI system for its role in enhancing bilateral connections and expressed optimism about the future of cross-border payments powered by new technologies.

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History of this topic

Jaishankar responds to claims of Brics undermining US dollar amid Trump's 100% tariff threat
2 weeks, 2 days ago

Jaishankar responds to claims of Brics undermining US dollar amid Trump's 100% tariff threat

Firstpost  

At a recent Brics summit in Kazan, Russia proposed “BRICS Pay,” a payment system akin to SWIFT and India’s Unified Payments Interface. The system aims to facilitate seamless cross-border payments in native currencies like the ruble, yuan, rupee, real, and rand Indian External Affairs Minister S Jaishankar said Brics bloc is not looking to create a rival to the US …

India's UPI system leading in cross-border payment, says US treasury official
1 year, 2 months ago

India's UPI system leading in cross-border payment, says US treasury official

Firstpost  

India’s Unified Payments Interface system stands out in advancing bilateral links with other countries, including Singapore and the United Arab Emirates, Jay Shambaugh, Under Secretary of US Treasury for International Affairs, said during his speech at Harvard Law School on Wednesday India’s Unified Payments Interface system stands out in advancing bilateral links with other countries, including Singapore and the United …

India's UPI system leading in cross-border payment: U.S. treasury official
1 year, 2 months ago

India's UPI system leading in cross-border payment: U.S. treasury official

The Hindu  

India’s Unified Payments Interface system stands out in advancing bilateral links with other countries, including Singapore and the United Arab Emirates, a U.S. treasury official said. Mr. Shambaugh said several initiatives are already underway to upgrade legacy payment systems. India stands out as a jurisdiction advancing bilateral links between its Unified Payments Interface system and those of other countries, including …

G20 nations commit to promote faster, inclusive cross-border payments
1 year, 3 months ago

G20 nations commit to promote faster, inclusive cross-border payments

India Today  

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1 year, 3 months ago

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Firstpost  

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1 year, 3 months ago

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Hindustan Times  

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1 year, 8 months ago

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Live Mint  

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1 year, 9 months ago

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The Hindu  

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1 year, 9 months ago

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Deccan Chronicle  

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DC Edit | UPI may be a game-changer
1 year, 10 months ago

DC Edit | UPI may be a game-changer

Deccan Chronicle  

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ABP News  

The second Finance and Central Bank Deputies Meeting under India’s G20 Presidency in Bengaluru will discuss road to policy for crypto assets, a symposium of digital public infrastructure, and enhancement of cross-border payment arrangements. Under the Indian Presidency, the First G20 Finance and Central Bank Deputies Meeting, was also held in Bengaluru during December 13-14, 2022. The deputies' meet will …

Inbound Travellers From G20 Countries Can Avail UPI Facility At Three Airports, Says RBI
1 year, 10 months ago

Inbound Travellers From G20 Countries Can Avail UPI Facility At Three Airports, Says RBI

ABP News  

The Reserve Bank of India on Tuesday said inbound travellers from G20 countries arriving at Mumbai, Delhi, and Bengaluru international airports would be able to use Unified Payments Interface for merchant transactions. According to the statement issued by the central bank, eligible travellers would be issued Prepaid Payment Instruments wallets linked to UPI for making payments at merchant outlets. To …

The G20 must help resolve debt crisis across the world
1 year, 10 months ago

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Live Mint  

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India's UPI and Singapore's PayNow are now linked: How will this benefit users?
1 year, 10 months ago

India's UPI and Singapore's PayNow are now linked: How will this benefit users?

Firstpost  

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Travellers from G20 can use UPI for payments at select airports: RBI Governor
1 year, 10 months ago

Travellers from G20 can use UPI for payments at select airports: RBI Governor

Hindustan Times  

The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood. It is now proposed to permit all …

A new global vision for G20
2 years, 4 months ago

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The Hindu  

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UPI will Act as Delhi’s Digital Bridge to Drive Rupee Across Global Payment Corridors
2 years, 4 months ago

UPI will Act as Delhi’s Digital Bridge to Drive Rupee Across Global Payment Corridors

News 18  

A cash on delivery payment, purchase at a hypermarket, mom-and-pop stores and vegetable cart, mobile recharge, bill payment, filling at a fuel station and an offering at a temple – what cuts across all these activities is a UPI payment — scan and pay. This development of zero dependence on foreign card network operators is India’s response to US sanctions …

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3 years, 1 month ago

2020 in review: Digital payments policy initiatives in 2020 that could have a lasting impact

Firstpost  

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3 years, 6 months ago

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News 18  

Bitcoin’s price tumbled last month following the news that regulators in China would ban domestic banks from dealing in cryptocurrencies. In response, China, India along with several countries’ central banks have floated ideas for a Central Bank Digital Currency, a digital representation of a nation’s currency backed by blockchain technology. Indeed, seeing the success of Google Pay in India using …

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4 years, 3 months ago

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Live Mint  

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