New Delhi, Feb 13 (KNN) Prime Minister Narendra Modi, along with his counterparts from Mauritius, Pravind Kumar Jugnauth, and President of Sri Lanka, Ranil Wickremesinghe, participated in the virtual launch of RuPay cards and Unified Payment Interface (UPI) connectivity between India and the respective countries on Monday.

In his remarks, Modi expressed hope that the new fintech services would benefit the two nations and emphasised the role of UPI in uniting partners with India.

"Today marks a special day for the three friendly countries of the Indian Ocean Region as we connect our historic ties with modern digital technology," stated the Prime Minister.

He highlighted the revolutionary change brought about by digital public infrastructure in India and reiterated the country's focus on its neighbourhood-first policy.

With this connectivity, Indian travellers to Mauritius can now pay merchants using UPI, while Mauritian travellers can do the same in India using the Instant Payment System (IPS) app of Mauritius.

Additionally, the adoption of RuPay technology through the MauCAS card scheme enables banks in Mauritius to issue RuPay cards domestically, usable at ATMs and PoS terminals both locally and in India.

Mauritius thus becomes the first country outside Asia to issue cards using RuPay technology. Indian RuPay cards will also be accepted at ATMs and PoS terminals in Mauritius.

The digital payments connectivity with Sri Lanka enables Indian travelers to make QR code-based payments at merchant locations in Sri Lanka using their UPI apps.

These projects, developed and executed by NPCI International Payments Limited (NIPL), along with partner banks and non-banks from Mauritius and Sri Lanka, received guidance and support from the Reserve Bank of India (RBI).

Operational through select banks, non-banks, and third-party application providers in India, Mauritius, and Sri Lanka, these facilities will be scaled up in the future, according to a statement issued by the RBI.

(KNN Bureau)