Connect with us


India, Mauritius, and Sri Lanka Deepen Financial Integration with RuPay and UPI Connectivity



India, Mauritius, And Sri Lanka Deepen Financial Integration With Rupay And Upi Connectivity

India, Mauritius, and Sri Lanka have taken a significant step towards enhancing financial integration by establishing RuPay card and Unified Payments Interface (UPI) connectivity.

This initiative, led by the Reserve Bank of India (RBI), facilitates digital payments among citizens of the three countries, marking a milestone in cross-border financial transactions.

An Indian traveler can now use UPI to make payments to merchants in Mauritius, while a Mauritian traveler can pay merchants in India using the Instant Payment System (IPS) app of Mauritius.

Moreover, Mauritius has become the first country outside Asia to issue cards utilizing RuPay technology under the MauCAS card scheme, enabling domestic use and cross-border transactions.

RuPay cards issued by Mauritian banks can be used at ATMs and Point of Sale (PoS) terminals in Mauritius and India, enhancing payment convenience for users.

In a bid to expand digital payments connectivity, Indian travelers now have the option to make QR code-based payments at merchant locations in Sri Lanka through their UPI apps.

The collaboration on digital payments connectivity between India and Mauritius, as well as Sri Lanka, was spearheaded by NPCI International Payments Ltd (NIPL) in partnership with banks and non-banks from the respective countries, with the support of the RBI.

The introduction of these services was virtually witnessed by dignitaries including Indian Prime Minister Narendra Modi, Mauritian Prime Minister Pravind Kumar Jugnauth, and Sri Lankan President Ranil Wickremesinghe.

The event was attended by prominent figures such as RBI Governor Shaktikanta Das, Bank of Mauritius Governor Harvesh Seegolam, and Central Bank of Sri Lanka Governor P. Nandalal Weerasinghe, underscoring the significance of the enhanced financial integration among the three nations.

Rachel Adams

Times News Global is a dynamic online news portal dedicated to delivering up-to-the-minute and comprehensive news coverage across various domains, including politics, business, entertainment, sports, security, features, opinions, environment, education, technology, and global affairs. Our commitment lies in sharing news that is rooted in factual accuracy, credibility, verifiability, authoritativeness, and investigative depth.We pride ourselves on being a distinctive media organization, guided by the principles enshrined in Article 19 of the Universal Declaration of Human Rights. Comprising a team of ordinary individuals driven by an unwavering dedication to unearthing the truth, we publish news without bias or intimidation.