Bhim Upi goes live on Neopay terminals in the United Arab Emirates
NPCI International Payments Ltd (NIPL), the international arm of the National Payment Corporation of India, said BHIM UPI is now live on NEOPAY terminals, across the UAE.
This initiative will enable millions of Indians traveling to the UAE to make payments securely and conveniently using BHIM UPI at NEOPAY-enabled stores and merchant stores. NIPL and NEOPAY, the payment subsidiary of Mashreq Bank, partnered last year to create the acceptance infrastructure in the UAE.
Ritesh Shukla, CEO of NIPL, said, “We are delighted to witness the commissioning of BHIM UPI in the UAE through our partnership with NEOPAY. This initiative will allow Indian tourists to make payments using BHIM UPI which has become the preferred payment method for Indian citizens. NIPL is constantly working to simplify digital payments and promote digital public goods around the world through our industry-leading solutions. We are committed to building an extensive global acceptance network for UPI to ensure seamless user experiences in payments.”
Vibhor Mundhada, CEO of NEOPAY, said: “Our partnership with NIPL is further evidence of our commitment to leveraging the latest cutting-edge technologies to provide innovative payment solutions to our customers and enable them to take full advantage of the thriving digital economy. The UAE continues to be one of the top source markets for Indian travelers and our collaboration with NIPL will enable thousands of Indian tourists who visit the UAE every year to enjoy safe and transparent transactions. »
UPI is a real-time instant payment system developed by the NPCI to facilitate interbank transactions. The simple, secure and cost-effective mobile payment system has become one of the most important forms of digital payments. In FY22, UPI enabled 45.6 billion transactions, worth $1 trillion, making it the most successful real-time payment ecosystem in the world.