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UPI Payment Service in UAE: A Digital Milestone by Prime Minister Narendra Modi
In a momentous two-day visit to the United Arab Emirates (UAE), Prime Minister Narendra Modi received a grand welcome, marking a significant collaboration between India and the UAE. President Sheikh Mohammed bin Zayed Al Nahyan warmly greeted PM Modi, bestowing upon him the Guard of Honor. During their joint venture, PM Modi and President Al Nahyan inaugurated the UPI Rupee Payment (UPI Rupay Payment) service in Abu Dhabi.
Commencement of UPI Payment in UAE
Historic Payment Collaboration
PM Modi and Sheikh Mohammed jointly initiated the groundbreaking UPI Rupay Payment service in Abu Dhabi, signaling a new era of digital transactions between the two nations.
Inclusivity for Indian Tourists
The introduction of UPI payments in the UAE brings substantial benefits, especially for Indian tourists. Payment processes will become more seamless, offering convenience to both Indian residents and visitors alike.
Expansion of UPI in the UAE
Broadening Horizons
PM Modi’s visit has kickstarted a significant expansion of UPI services in the UAE. Now, residents and visitors in the country can leverage the UPI system for various transactions, fostering greater economic cooperation.
Boon for Indian Expatriates
The move is particularly advantageous for Indian expatriates in the UAE, streamlining their financial transactions and making their daily lives more convenient.
Global Expansion of UPI Services
Sri Lanka and Mauritius Launch
Just a day before the UAE initiative, UPI payments were launched in Sri Lanka and Mauritius, extending the digital payment footprint globally.
Trailblazing Digital Payments
Following the success of UPI in Singapore, and its subsequent launch in Nepal, Bhutan, and France, the service is set to debut in Bangladesh shortly. Several other nations are expressing interest in joining the digital payments ecosystem.
The Role of NPCI
NPCI’s Innovation
The National Payments Corporation of India (NPCI) stands at the forefront of UPI’s development. Through the UPI mobile app, users can effortlessly conduct transactions, enjoying the convenience of inter-bank transactions and global payments using the Rupee card.
Growing Popularity
As more countries express interest in the Indian UPI payment system, it is anticipated that additional nations will integrate into this digital payments network in the coming days.
In conclusion, Prime Minister Narendra Modi’s visit to the UAE has marked a historic collaboration, culminating in the initiation of the UPI Rupay Payment service. This move not only strengthens bilateral ties but also paves the way for the global expansion of India’s UPI payment system.
