Npci new rule
India’s digital payment system UPI (Unified Payment Interface) is now going out of the country’s borders and making its identity in the whole world. Now this fast, safe and easy payment system of India has also started in Caribbean country Trinidad and Tobago. This means that now people there will be able to pay immediately from mobile like India.
This partnership between India and Trinidad & Tobago is another major example of India’s technology power. NPCI International Payments Limited (NIPL), the International Branch of NPCI (National Payments Corporation of India), has shared this partnership. Through this, the use of UPI will now become easier abroad as well.
What is UPI of India?
UPI is a digital payment system that can send or take money immediately from mobile phones without cash. For this, only one mobile app such as PhonePe, Google Pay or BHIM is required. In this, there is no need to give bank details, only one UPI ID gets done.
Why is this partnership special?
A large number of people of Indian origin live in Trinidad & Tobago. Now Indian tourists, students and diaspora will be easy to pay there. Along with this, local people will also be able to use UPI for fast and safe payment. This will also strengthen the economic relationship between the two countries.
Which countries are connected before?
The UPI of India has already started in countries like Singapore, UAE, Nepal, Bhutan, France, Sri Lanka and Mauritius. Now gradually more countries are moving towards adopting it. This makes it easier for Indian citizens to pay abroad and foreign nationals in India.