UPI registers 16.58 billion transactions worth Rs 23.5 trillion in October
The transactions in October were the highest numbers for the digital system since it became operational in April 2016.
NPCI International Payments Ltd (NIPL), the international arm of the National Payments Corporation of India (NPCI), on Thursday signed an agreement with QNB, the largest financial institution in the Middle East and Africa, headquartered in Qatar, to launch QR code-based Unified Payments Interface (UPI) payments across the Gulf nation.
This will enable UPI payment acceptance in Qatar through the QNB merchant network, benefiting Indian travellers visiting and transiting through the country.
“We believe that enabling UPI acceptance in Qatar will offer substantial benefits to the large number of Indians visiting the country, simplifying their transactions, and ensuring a hassle-free travel experience abroad,” Anubhav Sharma, Deputy Chief – Partnerships and Business Development, NPCI International, said in a statement.
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This partnership will provide Indian tourists the option to use their preferred payment method across retail stores, tourist attractions, leisure sites, duty-free shops, and hotels.
“With this new digital payment solution acceptance, we are revolutionising the way transactions are conducted, enhancing the travel experience like never before,” said Adel Ali Al-Malki, Senior Executive VP, QNB Group Retail Banking.
By adopting UPI payments, merchants in Qatar will also be able to offer a faster and more convenient payment and checkout process.
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