Forget cash and cards! UPI now accepted across the UAE
What's the story
NPCI International Payments Limited (NIPL) has announced a strategic partnership with Magnati, a leading payment solution provider in the United Arab Emirates. The collaboration will promote QR-based Unified Payments Interface (UPI) merchant payments through point-of-sale (POS) terminals across the Middle East. It is specifically designed to broaden the QR-based merchant payment network within the UAE, encouraging more merchants to offer UPI as a payment option for Indian travelers.
Beneficiaries
Partnership to benefit over 12 million Indian travelers
The NIPL-Magnati alliance will serve over 12 million Indians who visit Dubai and UAE annually. By integrating an Indian solution into the global digital payments network, UAE merchants will be able to cater to their expanding Indian customer base. The first phase of the partnership will witness UPI acceptance across Dubai Duty Free, enhancing the shopping and payment experience of Indian tourists.
Global impact
NPCI International showcases India's digital payment innovation globally
The expansion of UPI acceptance into key markets like the UAE, is a major step by NPCI International to showcase India's leadership in digital payment innovation on a global stage. The move is expected to set a new standard for cross-border payment interoperability. It also seeks to bolster economic and cultural ties between India and other nations across the globe.