Indians visiting UAE to get wider access to UPI payments as NIPL ties up with Magnati
New Delhi, Jan 16 (IANS) Indian tourists visiting the United Arab Emirates (UAE) will be able to use Unified Payments Interface (UPI) to make payments over a wider range of merchant locations with NPCI International Payments Limited (NIPL) announcing that it has entered into a partnership with Magnati, a payment solutions provider in the Middle East.
The collaboration aims to expand the QR-based merchant payment network in the UAE by enabling more merchants to provide UPI as a payment method to Indian travellers.
The partnership will be initially enabled at Dubai Duty-Free, catering specifically to Indian tourists. It will later be expanded to other sectors such as retail, hospitality, transport, and supermarkets, according to an NIPL statement.
NIPL, the international arm of the National Payments Corporation of India (NPCI), said this partnership would provide seamless payment options to more than 12 million Indians travelling to Dubai and the UAE annually.
“This aligns with our vision of providing Indians with a global digital payments acceptance network and enhancing their payment experience abroad. Furthermore, it paves the way for broader economic and cultural connections between India and the UAE,” said Ritesh Shukla, Chief Executive Officer (CEO), NIPL.
“This partnership aims to bolster digital payments, facilitate cross-border payments, and provide a seamless payment experience catering to Indian travellers and NRIs. This collaboration exemplifies our commitment to innovative digital solutions and creating value through a globally connected ecosystem,” said Salim Awan, managing director of institutional payments solutions at Magnati.
In 2023, India accounted for the highest number of visitors to Dubai, recording as many as 11.9 million travellers, followed by Saudi Arabia with 6.7 million and the United Kingdom with 5.9 million visitors.
UPI is recognised as one of the world’s most successful real-time payment systems, processing over 16 billion transactions in December 2024 alone.
UPI payments are accepted in seven countries, including Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France. Over 20 apps such as BHIM, PhonePe, Paytm, and Google Pay, facilitate international transactions.
–IANS
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