- Expansion Plans: UPI will expand to 4-6 new countries in 2025.
- Target Regions: Qatar, Thailand, and Southeast Asia.
- Current Reach: UPI payments are accepted in Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France.
- Collaborations: NIPL is supporting countries to build domestic real-time payment systems and enabling bilateral flows.
- International Initiatives: NIPL’s efforts include bilateral links (e.g., PayNow in Singapore) and multilateral projects like BIS’s Project Nexus.
NIPL (NPCI International Payments Limited), a subsidiary of the National Payments Corporation of India (NPCI), is set to broaden the reach of the Unified Payments Interface (UPI) by introducing it in four to six additional countries by 2025. This expansion aims to extend UPI’s presence beyond the current seven nations, with a focus on key destinations for Indian tourists, including Qatar, Thailand, and parts of Southeast Asia.
The announcement was made by Ritesh Shukla, CEO of NIPL. Highlighting the complexities of collaborating with international partners, Shukla expressed optimism about achieving the target:
“We are hopeful of going live in 3–4 more countries (next year), and if projects are completed on time, six countries is what we are looking at.”
UPI’s Current Reach
At present, UPI payments are accepted in seven countries:
- Bhutan
- Mauritius
- Nepal
- Singapore
- Sri Lanka
- France
Read in detail: Paytm Becomes International UPI App
Focus on Adoption and Awareness
NIPL is also working to boost adoption in existing markets where UPI is live. Efforts include:
- Educating merchants and customers on UPI usage.
- Partnering with Indian banks to guide users on international UPI transactions.
- Providing fintech notifications to travelers upon landing in UPI-supported countries.
- Making UPI operational at six international airport terminals.
Support for Domestic Payment Systems Globally
Beyond UPI expansion, NIPL is collaborating with countries like Peru, Namibia, and Trinidad and Tobago to help them develop their own domestic real-time payment systems similar to UPI. These systems are aimed at achieving payment sovereignty, with potential to connect to India in the future for bilateral cross-border payments.
Shukla stated:
“On an infrastructure level, we are helping other countries become sovereign in their domestic payment needs. Once these systems are ready and thriving, we will look to connect them with India to serve cross-border flows on a bilateral basis between two markets”
Get priority access to the latest updates, tips, and special announcements. Join our WhatsApp channel to always stay ahead.
Bilateral and Multilateral Initiatives
NIPL is actively working on bilateral partnerships and multilateral programs to enhance global payment solutions:
Multilateral Efforts:
NIPL is part of Project Nexus, an initiative led by the Bank for International Settlements (BIS). Project Nexus aims to connect instant payment systems (IPS) across participating nations, including India, Malaysia, the Philippines, Singapore, and Thailand.
Additionally, NIPL is supporting nations like the UAE and Mauritius in developing domestic RuPay-like card systems.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute professional advice or an endorsement of any particular product or service. While we make every effort to ensure the accuracy of the details shared, the content is based on publicly available information and reliable sources. Readers are encouraged to verify the details independently and consult with a professional advisor before making any decisions. Please exercise caution and stay informed when making any decisions.
