India’s UPI Services Launch in Sri Lanka Know Here Full Info

UPI Services Launch in Sri Lanka: India has successfully launched its Unified Payment Interface services (UPI) in Sri Lanka and Mauritius. As part of the initiative, RuPay cards were also found in Mauritius.

An Indian made the first UPI transaction. Sri Lankan President Ranil Wickremesinghe and Indian Prime Minister Narendra Modi attended the virtual ceremony.

The National Payments Corporation of India’s (NPCI) UPI service allows for real-time, instant bank transactions via mobile phone. RuPay, an Indian card payment network, is widely accepted by retailers, ATMs and online platforms worldwide.

UPI will make transactions easier for Indians who travel to Sri Lanka or Mauritius and Mauritians travelling to India.

“The launch by India of its UPI services in Sri Lanka and Mauritius highlights the robust links between our countries”, PM Modi said.

According to the Ministry of External Affairs, this launch will improve digital connectivity among countries and allow a wider range of people to experience digital transactions more efficiently and faster.

RuPay cards must be available in Mauritius, allowing Mauritian banks to issue RuPay cards. It will be easier to pay with RuPay cards in India and Mauritius. This will promote greater financial cooperation between the two countries.

Previously, NPCI International Payments Limited collaborated with Lyra – a French expert in ecommerce and proximity payment – to bring UPI to France.

The partnership was a milestone because the Eiffel Tower, a symbol of France’s history, became the first merchant to accept UPI payment. This was done to simplify the payment process for Indian tourists who visit France.

This launch aligns with New Delhi’s growing bilateral economic ties to Sri Lanka and Mauritius. It marks a major step towards strengthening these nations’ digital connectivity and financial cooperation.

The Ministry of External Affairs (MEA), a government agency, highlighted India’s leadership position in Fintech and Digital Public Infrastructure.

Prime Minister Modi also prioritised sharing innovation and development experiences with partner countries.

The MEA highlighted India’s strong cultural and people-to-people connections with Sri Lanka and Mauritius. It said the launch will bring faster and more seamless digital transactions, benefiting many individuals.

The introduction of UPI settlement will also facilitate transactions between Indians and Mauritians who are travelling to Sri Lanka or Mauritius.

This is an important development as it allows Mauritian banks to issue cards using the RuPay system. This will enable RuPay cards to be used for settlements in India and Mauritius.

Modi’s government has successfully pushed for the global acceptance of UPI. UPI services were enabled on the Eiffel tower in Paris, France, earlier this month. Indian visitors to the Eiffel Tower can scan a QR code with their UPI-enabled application.

France & Singapore Both Launched UPI Services in Their Country

In February last year, India and Singapore introduced a link between UPI (Unified Payment Interface) and PayNow. Mobile numbers can be used for money transfers from Singapore to India or India to Singapore.

In the first week of this month, France permitted Indian tourists to purchase tickets for the Eiffel Tower via UPI. France is the only European country that accepts UPI payments. The UPI service is being extended to all European tourism and retail businesses.

A MoU between the Reserve Bank of India (RBI) and the Central Bank of UAE was signed last year to link the payment and messaging systems of the two countries.

The MoU also aimed to foster seamless integration between India’s Unified Payments Interface and the UAE Instant Payments Platform.

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