UPI payment services launched in Sri Lanka, Mauritius
New Delhi: India’s Unified Payment Interface (UPI) services made their debut in Sri Lanka and Mauritius on Monday, marking a significant milestone celebrated by Prime Minister Narendra Modi as a “special day” linking historic ties with modern digital technology.
In a virtual ceremony attended by Prime Minister Modi, Mauritian counterpart Pravind Jugnauth, and Sri Lankan President Ranil Wickremesinghe, India’s RuPay card services were also introduced in Mauritius.
“India’s UPI or United Payments Interface comes in a new role today — Uniting Partners with India,” Modi said highlighting the transformative potential of digital connectivity.
Describing the occasion as a convergence of tradition and technology, Modi expressed optimism about the potential benefits for Sri Lanka and Mauritius, envisioning a surge in digital transactions facilitated by the UPI system.
Acknowledging India’s commitment to its “neighbourhood first policy,” Modi reiterated the nation’s readiness to extend support in various domains, including disaster relief, healthcare, and economic cooperation.
The introduction of Indian payment services in Sri Lanka and Mauritius aligns with New Delhi’s burgeoning economic partnerships with both nations, facilitating seamless financial transactions for travellers and promoting bilateral trade.
Developed by the National Payments Corporation of India (NPCI), UPI offers instant real-time payment capabilities through mobile phones, while RuPay serves as a widely accepted card payment network across various platforms.
In his remarks, Modi underscored India’s dedication to fostering cross-border connections through fintech advancements, projecting increased efficiency and transparency in financial transactions.
Highlighting the widespread adoption of digital payment solutions in India, Modi cited impressive statistics of UPI transactions, underscoring the system’s role in promoting financial inclusion and combating corruption.
Reiterating India’s commitment to regional cooperation and development, Modi emphasised the significance of SAGAR (Security and Growth for All in the Region) in shaping India’s maritime vision and fostering collaborative partnerships.
Expressing confidence in the transformative potential of UPI connectivity, Modi anticipated significant benefits for Sri Lanka and Mauritius, including enhanced tourism and educational opportunities for Indian nationals residing in these countries. Modi also celebrated the rollout of RuPay cards in Mauritius, emphasising the convenience and cost-effectiveness of real-time payments in local currencies.
In closing, Modi reiterated India’s steadfast support for its neighbouring countries, affirming its role as a reliable partner in times of crisis and highlighting the enduring bonds shared among the nations of the Global South.