India & Cyprus Sign MoU to Launch UPI Services

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India and Cyprus have signed a Memorandum of Understanding (MoU) to introduce Unified Payments Interface (UPI) services in the island nation. The agreement marks a significant step in strengthening bilateral fintech collaboration and expanding India's digital payment ecosystem globally.

UPI, developed by the National Payments Corporation of India (NPCI), enables instant, real-time mobile payments and has revolutionized digital transactions in India. With Cyprus becoming the latest partner, this move is expected to boost cross-border financial connectivity and support Indian tourists, businesses, and diaspora in the region.

This partnership reflects India’s growing influence in the global digital finance landscape and aligns with its vision of making UPI a global standard for fast and secure payments.

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