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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.