NPCI Subsidiary Partners With UAE Fintech Firm to Enable UPI

NPCI International Payments Ltd (NIPL), the global arm of the National Payments Corporation of India (NPCI), has partnered with UAE-based fintech firm Magnati to enable Unified Payments Interface (UPI) transactions for Indian tourists. This collaboration aims to streamline QR-based UPI merchant payments across the UAE, marking a significant advancement in cross-border digital payment systems.

UPI Integration in the UAE

The partnership with Magnati will facilitate UPI acceptance at point-of-sale (POS) terminals, starting with Dubai Duty-Free. This initiative is set to benefit over 12 million Indians visiting the UAE annually. UPI, which processed over 16 billion transactions in December 2024 alone, is already operational in seven countries, including Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France. Supported by apps like BHIM, Paytm, PhonePe, and Google Pay, UPI enables seamless international transactions for Indian users.

Expanding UPI’s Global Reach

Beyond UAE integration, NIPL is actively working to replicate UPI’s domestic success globally. Efforts include the development of a card scheme similar to RuPay and expanding international use cases such as peer-to-peer (P2P) and peer-to-merchant (P2M) transactions. Collaborative initiatives like Project Nexus, spearheaded by the BIS Innovation Hub, aim to connect instant payment systems in India, Malaysia, the Philippines, Singapore, and Thailand.

Conclusion

The collaboration between NIPL and Magnati signifies a milestone in making UPI a globally accepted payment system. With its increasing reach, UPI is poised to enhance payment experiences for Indians abroad and strengthen economic ties between nations.

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