India has expanded its Unified Payments Interface (UPI) services by launching them on Monday in Lulu shops in Qatar after the initial introduction in duty -free shops at Hamad International Airport last month.
The Minister of Commerce and Industry Piyush Goyal launched a lulus store and said it would help to facilitate smoother and more cost -effective movement of capital between the two countries.
Last month, NPCI International Payments LTD (NIPL) in cooperation with Qatar National Bank (QNB) launched UPI on the market for sale throughout Qatar for traders operated by QNB.
The last launch is part of the cooperation between the NPCI International Payments LTD (NIPL), Qatar National Bank (QNB) and the Japanese Payments NetStars.
PIYUSH GYAL at the last startup
Goyal also encouraged other banks and institutions in Qatar to accept UPI.
“Launching UPI and UPI transactions is not just a solution of digital payments, but has the potential to revolutionize trade between Qatar and India. It is an opportunity to expand our confidence between the two nations because, as we integrate Catar and India’s payment systems, our people will be able to do more,” I trade with lower costs. ” PTIY.
He mentioned that the transfer of money and capital would occur faster, almost in real time and at “very very low” costs.
“The widespread business will be strengthened by the reception of UPI … Thank you QNB for taking UPI within their payment systems,” Goyal said.
He argued that this launch would benefit from 8 30,000 Indians who live here by their remittings faster and more accessible.
Qatar became the eighth country that accepted UPI, allowing the Indians to make real -time payments, cashless payments and reduce their reliance on foreign currency or international cards.
UPI aims to benefit Indian travelers and local companies Katari by supporting digital payments. It improves global financial presence in India and offers tourists more comfort and safety in busy commercial areas.
Goyal said UPI was launched nine years ago and is a great success in India.
He stated that 85% of Indian digital payments are processed via UPI, and nearly 50% of global digital payments now occur through UPI, on average 640 million transactions per day.
He said it was exciting to see that QNB serves as a connection between the NPCI, the UPI platform and the Lulu group that provides digital payments via UPI to all its customers.
(Tagstotranslate) Qatar
