RuPay, UPI rolled out in Mauritius, Sri Lanka
- RuPay cards and Unified Payments Interface (UPI) connectivity between India and Mauritius, as well as UPI connectivity between India and Sri Lanka were established.
Key Highlights
- Objective: To deepen financial integration and to facilitate digital payments among citizens of the three countries.
- An Indian traveller to Mauritius will now be able to pay a merchant in Mauritius using UPI.
- Similarly, a Mauritian traveller will be able to pay a merchant in India using the Instant Payment System (IPS) app of Mauritius.
- With the adoption of RuPay technology, the MauCAS card scheme of Mauritius will enable banks in Mauritius to issue RuPay cards domestically.
- Such cards can be used at ATMs and PoS terminals locally in Mauritius as well as in India.
- With this, Mauritius becomes the first country outside Asia to issue cards using RuPay technology.
- Indian RuPay cards would also be accepted at ATMs and PoS terminals in Mauritius
- The digital payments connectivity with Sri Lanka will enable Indian travellers to make QR code-based payments at merchant locations in Sri Lanka using their UPI apps.
- These projects had been developed and executed by NPCI International Payments Ltd (NIPL) along with partner banks / non-banks from Mauritius and Sri Lanka, under the guidance and support of the RBI.
- The above facilities have been made operational through select banks/non-banks/ third party application providers in India, Mauritius and Sri Lanka.
- The collaborations on India’s digital payments connectivity with Mauritius and Sri Lanka through UPI and RuPay will
- Deepen financial integration
- Strengthen the long historical cultural, and economic relations of India with Mauritius and Sri Lanka
Prelims Takeaway
- Unified Payments Interface (UPI)
- NPCI