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'UPI is world's digital public code; will aid others build their versions'
Mint Mumbai
|August 07, 2023
In an interview, Ritesh Shukla, chief executive officer of NPCI International, says UPI is currently live in countries like Nepal, Bhutan, Singapore and UAE, and will be doubling in the next 12 to 18 months.
The number of countries where the Unified Payments Interface (UPI) “is live" is set to double in the next 12 to 18 months, said Ritesh Shukla, the chief executive officer of NPCI International, the firm running India’s flagship retail payment and settlement system.
European countries will be a key focus for greater collaboration and commercial partnerships, including Lyra, a French firm that will be an interoperability partner for UPI in France. In addition, India and the UAE, home to a large number of Indians, are working to operationalize cross-border remittances and personal payments. Shukla also confirmed a conversation with Saudi Arabia on a possible UPI collaboration, reported by Mint in June. Edited excerpts:
How do you think UPI has progressed in international markets?
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