UPI in Qatar

Union Minister of Commerce and Industry Piyush Goyal launched India’s Unified Payments Interface (UPI) in Doha, strengthening digital financial cooperation and economic ties between India and Qatar.

About UPI

• Introduction: UPI is a digital payment system that links multiple bank accounts to a single mobile application, enabling seamless real time transactions.
• Launch: Launched in 2016 by the National Payments Corporation of India (NPCI).
  • NPCI, a non-profit cooperation established in 2008 by the RBI and Indian Banks’ Association.
• Application: 
  • It connects 675 banks through one unified platform, making transactions fast, affordable, and accessible 24/7.
  • Its key features include instant money transfers, bill payments, peer-to-peer payments, and merchant transactions.

Expansion of UPI

• Global Adoption: UPI has expanded beyond India, with countries like Qatar now enabling UPI acceptance.
  • Currently, UPI is live in over 7 countries, including key markets such as UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, allowing Indians to make payments internationally.

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