 "NPCI International partners with Qatar National Bank to launch UPI")
NPCI International Payments (NIPL), the international arm of the payment system NPCI, on Thursday signed an agreement with Qatar National Bank (QNB) to launch QR-code-based UPI payments across the West Asian country.
The partnership will power UPI (Unified Payments Interface) payment acceptance in Qatar through the QNB merchant network, enabling Indian travellers to transact on the payments service.
Indian tourists will have the option to transact using UPI across retail stores, tourist attractions, duty-free shops, and hotels.
“Merchants in Qatar will greatly benefit from UPI, gaining access to a wider customer base and more efficient payment and collection processing,” said Anubhav Sharma, Deputy Chief – Partnerships and Business Development, NPCI International.
In India, the National Payments Corporation of India (NPCI) runs the UPI ecosystem.
NIPL, which is a wholly owned subsidiary of the NPCI, is devoted to expanding the deployment of RuPay and UPI outside India.
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“With this new digital payment solution acceptance, we are revolutionising the way transactions are conducted, enhancing the travel experience like never before. We are confident that the strategic initiative will not only elevate the travel and hospitality sectors but also empower local merchants to thrive in a dynamic and increasingly digital marketplace,” said Adel Ali Al-Malki, Senior Executive VP, QNB Group Retail Banking.
The expansion in Qatar follows NIPL’s push to expand internationally.
In June, NIPL inked an agreement with the central bank of Peru to develop a UPI-like payment system in the South American country.
In May this year, the payment body entered into an agreement with the Bank of Namibia (BoN) for developing an instant payment system like UPI in the African nation.
NPCI has also taken UPI rails to other countries after breaking into markets such as France, Sri Lanka, Singapore, and Mauritius.
In February this year, it announced a partnership with e-commerce and proximity payments company Lyra to enable UPI acceptance in France.
The same month, UPI services were rolled out in Sri Lanka and Mauritius.
In January 2024, NPCI announced the launch of the UPI-PayNow linkage that enables Indians to receive remittances directly into their bank accounts from Singapore and vice versa.