INDIA'S UPI GOES GLOBAL
The Sunday Guardian
|October 06, 2024
Trinidad and Tobago is the first Caribbean nation to implement a system similar to UPI.
On 26 September, the National Payments Corporation of India (NPCI) signed a strategic agreement with the Ministry of Digital Transformation (MDT) of Trinidad and Tobago to develop a real-time payments platform modelled after India's Unified Payments Interface (UPI) to make seamless bank transactions through mobile devices.
This makes Trinidad and Tobago the first Caribbean nation to implement a system similar to UPI. The objective of this collaboration, as per documents, is to establish an efficient platform for person-to-person (P2P) and person-to-merchant (P2M) transactions, aimed at enhancing the digital payment landscape and promoting financial inclusion in the Caribbean country.
This story is from the October 06, 2024 edition of The Sunday Guardian.
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