India Launches UPI, Rupay Services in Sri Lanka and Mauritius, Boosting Regional Digital Payments

India successfully launched its Unified Payment Interface (UPI) services in Sri Lanka and Mauritius on February 12th, marking a significant step towards digital connectivity and financial collaboration between the nations. Additionally, RuPay card services were introduced in Mauritius as part of this strategic initiative.

Key points:

  • First UPI transaction: An Indian citizen completed the first-ever UPI transaction in Sri Lanka, symbolizing the launch.
  • Leaders present: The virtual ceremony was attended by Prime Minister Modi of India, President Wickremesinghe of Sri Lanka, and Prime Minister Jugnauth of Mauritius.
  • Benefits: This move is expected to:
    • Ease cross-border transactions: Simplify and make payments more convenient for tourists, businesses, and individuals between the countries.
    • Boost financial inclusion: Encourage digital payments and financial participation in both Sri Lanka and Mauritius.
    • Strengthen regional ties: Deepen economic and technological cooperation between India and its neighbors.

Overall, this initiative is seen as a positive development for promoting financial integration and digitalization in the region.

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