New Delhi: The Indian government has been pushing UPI as a platform for international payments. To draw in Indian clients, retailers in the United Arab Emirates (UAE) now take payments via UPI in Rupees.
What’s more, Lulu, one of the largest retailers in the UAE, has begun to allow consumers to pay using UPI in any of its retail locations.
Indian citizens can easily make payments using the UPI app, just like in India. The amount paid will be deducted from their bank account in India. So, Indian citizens and NRIs can easily shop in UAE through UPI for rupees, just like in India.
UPI payments were launched in the UAE at the beginning of July. Apart from Lulu, payments through UPI are being accepted by many big and small merchants across the UAE.
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Indian citizens and NRIs in the UAE can quickly pay through QR codes through Point of Sale (POS) machines.
According to the NPCI: “The number of Indian travellers in the Gulf Cooperation Council (GCC) is estimated to reach 98 lakh in 2024. Around 53 lakh Indians are likely to reach UAE alone.”
The Government of India, the Reserve Bank of India (RBI), and NPCI International are collaborating to promote UPI globally.
UPI is officially accepted in Nepal, Sri Lanka, Mauritius, UAE, Singapore, France, and Bhutan.
The Unified Payments Interface (UPI)-based transactions surged 35 per cent on a YoY (Year on Year) basis in the month of July, reaching Rs 20.64 lakh crore against Rs 20.07 lakh crore.
The total number of UPI transactions increased almost 4 percent (month-on-month) to 14.44 billion in July from 13.89 billion in the previous month.
As several countries adopt the UPI success story, the average daily transaction volume stood at 466 million last month, compared with 463 million in June.
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–IANS
