New Delhi, February 6: The Unified Payments Interface (UPI) has officially launched in more than eight countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Qatar, and Mauritius. This expansion highlights India’s leadership in digital payments, as reported by the government during a parliamentary session on Friday.
Minister of State for Electronics and Information Technology, Jitendra Prasad, informed the Rajya Sabha that the international acceptance of UPI is boosting remittances, promoting financial inclusion, and strengthening India’s position in the global fintech landscape.
Additionally, the government has signed memorandums of understanding (MOUs) with 23 countries to share or collaborate on the India Stack/Digital Public Infrastructure (DPI). These agreements primarily aim to enhance the adoption of India’s digital governance platforms.
The Union Minister stated that these MOUs are designed to foster cooperation in areas such as digital identity, digital payments, data exchange, and service delivery platforms. They align with India’s comprehensive digital public infrastructure diplomacy under the India Stack framework.
For DigiLocker, MOUs have been signed with Cuba, Kenya, the UAE, and the Lao People’s Democratic Republic (LPDR). Furthermore, the government is taking steps to globally share the success of India’s DPI.
The India Stack Global initiative showcases India’s DPI and assists friendly nations in its adoption. This portal provides access to 18 major digital platforms.
The Union Minister added, “The Global DPI Repository launched during India’s G20 presidency in 2023 serves as a global knowledge platform, where India has contributed the highest number of DPI solutions.”
Key DPI and digital solutions include Aadhaar, UPI, CoWIN, API Setu, DigiLocker, Aarogya Setu, GEM, UMANG, DIKSHA, e-Sanjeevani, and PM Gati Shakti, among others.
Meanwhile, recent data from the National Payments Corporation of India (NPCI) indicates a 28% year-on-year increase in UPI transactions for January, reaching 21.70 billion. The transaction amount also saw a 21% annual rise, totaling ₹28.33 trillion.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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