United Payments Interface (UPI), India’s revolutionary digital payment system, is set to expand to the Maldives, according to External Affairs Minister S. Jaishankar. During his three-day visit to the Maldives, Jaishankar announced on X (formerly known as Twitter) that India and the Maldives have signed an agreement to introduce UPI in the island nation.
Jaishankar shared, “Witnessed the signing of an MoU between the National Payments Corporation of India (NPCI) and the Ministry of Economic Development and Trade of Maldives on the introduction of a digital payment system in the Maldives.”
In a press conference with his Maldivian counterpart, Moosa Zameer, Jaishankar highlighted how UPI has transformed digital transactions in India and expressed his excitement about extending this innovation to the Maldives. He emphasized that the introduction of UPI will have a significant positive impact on tourism in the Maldives.
UPI Goes Global: List of Countries Where UPI is Accepted
UPI, developed by the National Payments Corporation of India (NPCI), is an instant real-time payment system that enables inter-bank transactions through mobile devices. Currently, UPI is accepted in the following countries:
- Bhutan
- France (E-commerce)
- Mauritius
- Nepal
- Singapore
- Sri Lanka
- UAE
In a related development, NPCI International Payments Limited (NIPL), the international arm of NPCI, has surpassed 100,000 cross-border UPI Person-to-Merchant (P2M) transactions in Nepal, marking a significant milestone in the global expansion of UPI.
