India and the United Arab Emirates have agreed to connect their digital payment systems. This will allow RuPay cards and UPI payments from India to be accepted across the UAE.
During Indian Prime Minister Narendra Modi’s visit to Abu Dhabi, the two countries signed an agreement to link their financial networks. This interconnects the UPI platform from India with the equivalent AANI system in the UAE.
Additionally, the national RuPay debit/credit card system in India will be linked with the UAE’s JAYWAN card. The move aims to significantly strengthen economic engagement between the two nations.
UPI Payment Services Now Live in 7 Countries
In parallel, India’s UPI digital payments platform has now gone global with launches in seven countries including Sri Lanka, Mauritius, France, UAE, Singapore, Bhutan and Nepal. The services allow Indians travelling to these nations to easily use UPI for merchant payments and remittances.
UPI goes Global!🤩
— MyGovIndia (@mygovindia) February 12, 2024
India's Unified Payments Interface goes International with launches in Sri Lanka and Mauritius!
An instant, one-stop payment interface showcases 'Make in India, Make for the World'. #DigitalPayment #RuPay pic.twitter.com/EI8LBWxZCi
The cross-border interlinkages will enable seamless, instant funds transfer driving bilateral trade and investments. It also makes travel more convenient for citizens through familiar homegrown payments platforms.
