NPCI International Payments Ltd has teamed up with Dubai-based Network International to introduce Unified Payments Interface (UPI) solutions in the United Arab Emirates (UAE), aiming to enhance digital payment options for Indian residents and tourists.
In a strategic collaboration, NPCI International and Network International plan to implement QR code-based UPI payments across Network International’s extensive network. This includes over 200,000 POS terminals and 60,000 merchants throughout the UAE. The initiative aims to streamline payment experiences for Indian travelers, offering seamless transactions at retail stores, dining venues, and popular tourist destinations such as Dubai Mall and Mall of the Emirates.
Ritesh Shukla, CEO of NPCI International, expressed confidence in the partnership, highlighting its potential to expand UPI adoption in the UAE market. He emphasized the initiative’s dual benefits of providing Indian travelers with familiar payment methods while promoting innovative digital payment solutions globally.
The introduction of UPI payments in the UAE follows earlier initiatives by fintech companies like PhonePe, which enabled UPI transactions through Mashreq’s NEOPAY Terminals for its users in the region. These efforts reflect a growing demand for convenient, secure payment solutions tailored to the needs of Indian nationals visiting or residing in the UAE.
With Dubai alone welcoming 1.84 million Indian tourists in 2022 and a significant Indian expatriate population of approximately 3.554 million as of August 2023, the introduction of UPI payments addresses a critical need for accessible and efficient digital payment options. This partnership underscores NPCI International and Network International’s commitment to enhancing financial inclusivity and convenience across international borders.
The collaboration between NPCI International and Network International represents a significant advancement in digital payment solutions, leveraging UPI’s proven success in India to enhance payment experiences for Indian travelers and residents in the UAE. As the partnership unfolds, it is poised to contribute to broader adoption of UPI technology and further innovation in global payment systems.