India To Expand UPI To 3 More Countries After Singapore’s PayNow
India recently integrated UPI with Singapore’s PayNow. After getting more international demands, UPI may also launch in UAE, Mauritius, and Indonesia. India’s Unified Payments Interface (UPI) and Singapore’s PayNow were integrated last week to enable real-time funds transfer between citizens of both countries. UPI may also be connected with three more countries – UAE, Mauritius as well as Indonesia. Mehul Mistry, global head of strategy, digital financial services , and partnership at online payments startup Wibmo, told Mint that if Singapore launches rapid money transfers, countries like the UAE, Mauritius, and Indonesia are likely to follow suit. The expansion of India’s top-notch UPI digital payment infrastructure, which will make it simpler for Indian users to perform business abroad, is something to be proud of, he said. In 2019, financial services company PayU purchased Webmu. A cross-border person-to-person (P2P) payment system has been introduced with Singapore as the firs...