The Unified Payment Interface (UPI) to be accepted in the UAE

Friday 18 March 2022 11:09 CET | News

Digital commerce enabler Network International has started cooperating with NPCI International Payment (NIPL) on accepting the UPI payment interface in the UAE.

The agreement between Network and NIPL will benefit Indian travellers visiting the UAE by allowing them to make seamless mobile payments using their preferred QR-based digital wallets, supported by UPI technology, across Network’s retail merchant partner outlets, including those in sectors such as jewellery, supermarkets, hospitality, duty-free retailers, etc.

UPI is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank transactions. UPI provides instant person-to-person (P2P) and person-to-merchant (P2M) transactions. In 2021, UPI facilitated transactions worth USD 940 billion, which is equivalent to approximately 31% of India’s GDP, according to the press release.

Commenting on the agreement, Netwok International’s officials said that they look forward to working closely with NPCI International, to facilitate acceptance of UPI-powered QR-based digital wallets across Network’s merchants in the UAE. As an acquirer, it continues to be their endeavour to support and augment new payments methods across the UAE.

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Keywords: NPCI, partnership, QR payments, mobile payments, UPI, real-time payments
Categories: Payments & Commerce
Countries: United Arab Emirates
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Payments & Commerce

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