India's Unified Payment Interface (UPI) services will be rolled out in Sri Lanka and Mauritius. (Unsplash)News 

Launch of India’s UPI services scheduled for Monday in Sri Lanka and Mauritius

India’s Unified Payment Interface (UPI) services are set to be introduced in Sri Lanka and Mauritius during a virtual ceremony on Monday, which will be attended by Prime Minister Narendra Modi and the highest-ranking officials from both island countries.

India’s RuPay card services in Mauritius would also be launched at the event.

According to the Ministry of External Affairs (MEA), Mauritian Prime Minister Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe will join Modi in the virtual ceremony.

“Prime Minister Narendra Modi, Sri Lankan President Ranil Wickremesinghe and Mauritius Prime Minister Pravind Jugnauth will witness the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius and RuPay card services in Mauritius on February 12 at 1 pm through video conferencing,” it said.

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Developed by the National Payments Corporation of India (NPCI), UPI is an instant real-time payment system that facilitates bank-to-bank payments through mobile phones. RuPay is a global Indian card payment network widely accepted in stores, ATMs and online.

The launch of India’s services in Sri Lanka and Mauritius comes amid increasing bilateral economic ties between New Delhi and the two countries.

“India has emerged as a pioneer in Fintech innovation and digital public infrastructure. The Prime Minister has strongly invested in sharing our development experiences and innovations with partner countries,” the MEA said in a statement.

It said that given India’s strong cultural and people-to-people links with Sri Lanka and Mauritius, the launch will benefit a broad cross-section of people through a faster and seamless digital transaction experience and enhance digital connectivity between the countries.

“The launch will enable UPI solution services to be available to Indian nationals traveling to Sri Lanka and Mauritius as well as Mauritian nationals traveling to India,” it said.

“The expansion of RuPay card services in Mauritius will enable Mauritian banks to issue cards based on RuPay mechanism in Mauritius and facilitate the use of RuPay card for payments both in India and Mauritius,” it added.

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