India has successfully introduced its Unified Payment Interface (UPI) services in Sri Lanka and Mauritius. Additionally, RuPay card services were launched in Mauritius as part of this initiative.
The first UPI transaction in Sri Lanka was made by an Indian, with Mauritian Prime Minister Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe, along with Indian Prime Minister Narendra Modi, attending the virtual ceremony.
"I believe Sri Lanka and Mauritius will benefit from UPI system," said PM Modi on launch of UPI services in the two countries.
UPI services, created by the National Payments Corporation of India (NPCI), allow for instant real-time bank transactions through mobile phones. RuPay is an Indian-based card payment network that is widely accepted at various points of sale, ATMs, and online platforms worldwide.
The launch of UPI further strengthens India's ties with Sri Lanka and Mauritius, making transactions easier for Indians visiting Sri Lanka and Mauritius, as well as Mauritian nationals travelling to India.
"The launch of India's UPI services in Sri Lanka and Mauritius underscores the robust linkages between our countries," PM Modi added.
The launch will also improve digital connectivity between countries and provide a faster, smoother digital transaction experience for a diverse range of people, according to the external affairs ministry.
The expansion of RuPay card services in Mauritius is also important, as it allows Mauritian banks to issue cards using the RuPay system. This will make it easier to use RuPay cards for payments in both India and Mauritius, promoting greater financial cooperation between the two countries.
Before this, NPCI International Payments Limited (NIPL) collaborated with Lyra, a prominent French expert in e-commerce and proximity payments, to bring UPI services to France.
This partnership achieved a significant milestone, as the iconic Eiffel Tower became the first merchant in the country to accept UPI payments. This move aimed to streamline the transaction process for Indian tourists visiting France.