Now Reading: NPCI in talks with Japan, Malaysia, Bahrain for UPI
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NPCI in talks with Japan, Malaysia, Bahrain for UPI
NPCI, the developer of India's UPI payments system, is in talks with Japan, Malaysia and Bahrain to expand the service globally, chief executive Dilip Asbe said. NDTV Profit reports that governments and…
The Story in Brief
NPCI, the developer of India's UPI payments system, is in talks with Japan, Malaysia and Bahrain to expand the service globally, chief executive Dilip Asbe said. NDTV Profit reports that governments and central banks in those countries will have the final say because of geopolitical and regulatory implications.
The push targets the Indian diaspora abroad, who could use UPI for remittances and local payments. NPCI has already taken UPI to countries such as Nepal, Bhutan and France, and is now looking at newer markets with significant Indian communities.
The Indian Opinion
The talk of UPI going global often reads like a victory lap, but the real test is whether foreign central banks let it in. Japan and Malaysia are not easy markets, and payments there are already mature. Watch for the agreements, not the announcements. If even one of these three converts into a live service within a year, the diaspora pitch has teeth. Otherwise it is just another press tour.
Source: ndtvprofit.com
This story was synthesised by AI from the source linked above.
