India's UPI Payment System Launches in the Maldives
India Expands UPI Service to Maldives
India is set to launch its Unified Payments Interface (UPI) service in the Maldives, according to External Affairs Minister S. Jaishankar. The UPI system, developed by the National Payments Corporation of India (NPCI), enables instant inter-bank transactions via mobile phones.
Significance of UPI
- Seamless financial transactions
- Boosts economic collaboration
- Transforms the digital payment landscape
Jaishankar praised UPI as a game-changer in digital payments, facilitating efficient financial exchanges between nations. This launch represents a crucial advancement in India's digital diplomacy and aims to enhance international economic relationships.
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