NPCI's International Arm Plans To Expand UPI To 4-6 New Countries In 2025
ABP NewsNPCI International Payments, the entity tasked with expanding NPCI’s homegrown payment products globally, is working to extend the reach of the Unified Payments Interface to four to six additional countries in 2025, up from the current seven, according to Ritesh Shukla, CEO of NIPL. NIPL, a wholly-owned subsidiary of the National Payments Corporation of India, aims to launch UPI in countries that are key destinations for Indian tourists, such as Qatar, Thailand, and other Southeast Asian nations. In addition to expanding UPI’s global footprint, NIPL has partnered with countries like Peru, Namibia, and Trinidad and Tobago to develop payment systems similar to India’s real-time payment infrastructure. The BIS Innovation Hub is partnering with the central banks of India, Malaysia, the Philippines, Singapore, and Thailand to implement the project, aiming to connect instant payment systems across countries.