Money & Banking

Mashreq Bank, NPCI International partner to offer UPI in the UAE

Our Bureau Mumbai | Updated on August 21, 2021

To help Indian travellers pay seamlessly using UPI-based applications across merchandise.

NPCI International Payments Ltd (NIPL) has partnered with Mashreq to offer acceptance of its mobile-based real-time payment system, Unified Payments Interface (UPI), in the UAE.

“This partnership will enable over two million Indians who travel to UAE for business or leisure purposes every year to pay for their purchases seamlessly using UPI-based mobile applications across shops and merchant stores in the UAE,” said a joint statement on Friday.

The tie-up is expected to boost the digital payment ecosystem in the UAE and will prove to be a major stepping stone for the wider reach of UPI in the international markets, it further said.

“We are excited about our partnership with Mashreq Bank, which will enable consumers from India transact seamlessly using NPCI’s world-renowned UPI platform and deliver seamless user experience,” said Ritesh Shukla, Chief Executive Officer, NIPL.

In July, NIPL and Royal Monetary Authority RMA of Bhutan had partnered to enable and implement BHIM UPI QR-based payments in Bhutan.

“Given the position of UAE as an international commerce and tourism hub, retail merchants in the Emirates always enable the latest payment methods that are expected by our international clients,” said Kartik Taneja, EVP, Head of Payments Mashreq Bank.

Published on August 20, 2021

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