The United Arab Emirates (UAE) has allowed tourists or migrants with Indian bank accounts to make UPI payments at shops, retail establishments and other merchants in the gulf nation.
- The National Payments Corporation of India (NPCI) has partnered with the Mashreq Bank’s NEOPAY to facilitate UPI payments in the UAE.
- It will be mandatory for users to have a bank account in India with UPI enabled on it.
- The users will also need an application, like BHIM, to make UPI payments. Payments using UPI will only be accepted at those merchants and shops which have NEOPAY terminals.
- NPCI’s international arm NIPL have several such arrangements with international financial services providers for its products, including UPI and RuPay cards.
- Globally, UPI is accepted in Bhutan and Nepal.
- In Singapore, a project to link UPI with the city-state’s instant payment system PayNow is being undertaken by the RBI and the Monetary Authority of Singapore.
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