Introduction
India has recently launched its popular Unified Payments Interface (UPI) system and RuPay card services in two new countries – Sri Lanka and Mauritius. This expansion allows Indian travellers visiting these countries to easily make digital payments using UPI. At the same time, it enables tourists from these countries visiting India to leverage the benefits of UPI and RuPay services as well.
Key Takeaways
- India recently launched UPI and RuPay services in Sri Lanka and Mauritius.
- The launch enables Indian travellers to use UPI payments in these countries.
- Mauritius travellers can now also use UPI for payments when visiting India.
- UPI’s global expansion includes launches in countries like France, Bhutan, Singapore etc.
- Using UPI internationally involves a simple registration process with your bank.
- The launch boosts tourism and transactions between the countries.
Launch Event
The UPI and RuPay services were formally launched in Sri Lanka and Mauritius during a virtual event on February 12, 2024. The event was attended by Prime Minister Narendra Modi and the top leadership of the two nations, including Sri Lankan President Ranil Wickremesinghe and Mauritian Prime Minister Pravind Jugnauth.
PM Modi described it as a “special day” that connects the historical ties between the countries with modern digital technology. He emphasized that it will benefit tourism and transactions between the three nations.
Enabled Services
The key services enabled by this launch are:
- UPI payments for Indian travellers visiting Sri Lanka and Mauritius.
- UPI payments for Mauritian travellers visiting India.
- RuPay card services introduced in Mauritius, allowing Mauritian banks to issue RuPay cards.
UPI Transaction
The first live demonstration of a UPI transaction was done by an Indian national in Mauritius during the launch event and was uploaded to youtube by DD India:
Benefits
Launching UPI and RuPay services between the countries provides the following key benefits:
- Enable real-time, low-cost digital payments while travelling.
- Reduce the need to carry hard currencies, facilitating cashless transactions.
- Allow transactions in local currencies without conversion charges.
- Boost overall tourism and transactions between the countries.
Global Expansion
The UPI system has seen rapid global expansion recently, being launched in several countries:
- France
- Bhutan
- Singapore
- UAE
The RuPay network is also being promoted globally as a rival to payment giants like Mastercard and Visa.
Using UPI Abroad
To use UPI for payments abroad, Indian travellers need to follow a simple registration process:
- Open UPI app → Tap profile picture
- Select “UPI International” → Activate bank account
- Scan merchant’s QR code to make payment
UPI ID, password and PIN work globally without changes. Users simply need to provide recipient details including account number, BIC, IBAN etc. along with currency and amount.
Conclusion
The launch of UPI in Sri Lanka and Mauritius marks an important milestone in India’s efforts to promote digital payments globally. It brings significant conveniences for travellers between the countries and boosts tourism. As UPI expands its reach to more nations, it cements India’s leadership in building digital payment infrastructure for the world.
FAQs
Q1: Which countries were newly added for UPI services?
A1: Sri Lanka and Mauritius were the two countries where UPI services were recently launched.
Q2: When was the launch event held?
A2: The virtual launch event was held on February 12, 2024.
Q3: Who all attended the launch event?
A3: The event was attended by Indian PM Narendra Modi, Sri Lankan President Ranil Wickremesinghe and Mauritian PM Pravind Jugnauth.
Q4: What key services were enabled by the launch?
A4: The launch enabled UPI payments for Indian travellers visiting these countries and vice versa. It also enabled RuPay cards to be issued by banks in Mauritius.
Q5: Where was the first international UPI transaction demonstrated?
A5: The first live demonstration was done by an Indian national making a UPI payment in Mauritius.
Q6: How does UPI expansion benefit the countries involved?
A6: It reduces cash usage, enables real-time low-cost payments, boosts tourism, and increases overall transactions between the countries.
Q7: Which other countries has UPI expanded to recently?
A7: Some other recent UPI expansions include France, Bhutan, Singapore and UAE.
Q8: What process must you follow to use UPI internationally?
A8: You need to register for UPI International through your bank app, activate international usage, and then scan merchant QR codes to make payments.
Q9: Will your UPI ID, PIN and password work globally?
A9: Yes, your existing UPI credentials will work globally without any changes.
Q10: Who is promoting RuPay as a global card network rival?
A10: RuPay is being promoted globally by India as a rival to established card networks like Visa and Mastercard.
