The UAE (United Arab Emirates) is now able to accept UPI payments thanks to the National Payments Corporation of India (NPCI). This means that Indian visitors or non-resident Indians (NRIs) residing in the United Arab Emirates (UAE) will be able to use the Unified Payments Interface (UPI) to make payments via QR code using Point of Sale devices.
NPCI International Payments Limited has teamed up with Network International, a sizable digital commerce business in the Middle East and Africa, to provide UPI payments services in the United Arab Emirates.
It is projected that in 2024, there will be 98 lakh Indian tourists visiting the Gulf Cooperation Council (GCC). According to a press release from NPCI, about 53 lakh Indians are expected to travel to the UAE alone.
The average daily transaction value through UPI during this time was Rs 66,903 crore, with 46.3 crore of transactions taking place on average each day.
The expansion of UPI into international markets and the integration of RuPay credit cards with UPI are the causes of the surge in UPI transactions.
Network International's merchant network
According to a statement from NPCI International, this program guarantees easy and safe transactions for Indian tourists and Non-Resident Indians (NRIs) throughout Network International's extensive merchant network in the United Arab Emirates.
According to the statement, Network operates over 200,000 point-of-sale terminals for over 60,000 retailers in industries including supermarkets, transportation, lodging, and retail.
UPI in UAE | representational pic
Nations that accept UPI
There are currently six countries where UPI is available. Among them are Bhutan, France, Singapore, Mauritius, Nepal, and Sri Lanka. The UAE brings the total to seven.
Additionally, NPCI and RBI want to see UPI become more widely used outside of India. Over the next five years, they plan to introduce UPI in twenty more countries.
