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Today every second person in the country is using UPI. UPI is making its mark not only in the country but also abroad. Many countries are using India's digital payment system UPI. It may soon be launched in Africa and South America as well. In fact, NPCI has signed an agreement with the central banks of Peru and Namibia to develop a system similar to UPI.

When will UPI start in these countries?

According to media reports, NIPL CEO Ritesh Shukla said that India is ready to give the blueprint of UPI to many countries in Africa and South America. Also, UPI can be launched in Peru and Namibia in 2027. NPCI is the regulatory body of retail payment system in the country. It runs UPI in the country. There were 15 billion UPI transactions in August.

NIPL was created to take UPI abroad

NPCI formed NIPL to take India's UPI abroad. According to a report, NIPL is currently in talks with 20 countries in Africa and South America regarding UPI. Our deal with the central banks of Peru and Namibia has been done earlier this year. These banks can launch their own UPI-like system by the end of 2026 or early 2027.

Their employees will increase by next year

Quoting sources, the Business Standard report said that serious talks have been held with Rwanda regarding UPI. However, Ritesh Shukla and the Bank of Rwanda refused to say anything clear about this. According to Ritesh Shukla, NIPL is also tying up with real time payment systems of other countries. These include Singapore's PayNow. We have already made 7 such alliances. NIPL currently has 60 members. Now this team will be expanded by March 2025. Currently, some employees of the company are in Singapore and Middle East countries.