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Prime Minister Narendra Modi along with United Arab Emirates (UAE) President Sheikh Mohammed Bin Zayed Al Nahyan, on Tuesday, introduced Unified Payments Services (UPI) RuPay card service in Abu Dhabi.
A video emerged on social media, showing Al Nahyan tapping a plastic card embossed with his name to make the payment and mark the launch.
PM Modi is on a two-nation bilateral visit to the UAE and Qatar, beginning Tuesday.
The development follows after an agreement between the two nations on the interlinking of the instant payment platforms - UPI (India) and AANI (UAE), to facilitate cross-border transactions. The MoU on the same was signed in July last year during Modi's visit to the gulf nation.
UPI, an instant payment system, was developed by the National Payments Corporation of India (NPCI) in 2016.
VIDEO | PM Modi and UAE President Sheikh Mohammed Bin Zayed Al Nahyan introduce UPI service in Abu Dhabi. pic.twitter.com/24JKrjD77I
— Press Trust of India (@PTI_News) February 13, 2024
UPI, an instant payment system, was developed by the National Payments Corporation of India (NPCI) in 2016.
"Over the last nine years, our cooperation with the UAE in diverse sectors such as trade and investment, defence and security, food and energy security and education has grown manifold. Our cultural and people-to-people connection is stronger than ever," Modi said in his departure statement ahead of the visit.
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World Government Summit in Dubai
Earlier, the two leaders also held key talks to discuss bilateral ties and strengthen them further. During the visit, PM Modi will also address a gathering of world leaders at the World Government Summit in Dubai on Wednesday. He will hold bilateral talks with the Dubai ruler, His Highness Sheikh Mohammed bin Rashid, on the margins of the summit.
Additionally, Modi will inaugurate the first Hindu temple in Abu Dhabi and also address the Indian diaspora from all the Emirates of the UAE at a special event in Abu Dhabi on Wednesday.
Following his UAE trip, he will embark on a Qatar visit to boost the ties between the two countries.
UPI services now acceptable in 7 countries
Notably, a day before PM Modi launched UPI, RuPay card services in Sri Lanka and Mauritius. Mauritian PM Pravind Jugnauth, Sri Lankan President Ranil Wickremesinghe and the Reserve Bank of India Governor Shaktikanta Das were among the dignitaries present in the virtual ceremony.
With the latest development, the UPI payments service is now acceptable in seven countries. These include France, UAE, Mauritius, Sri Lanka, Singapore, Bhutan, and Nepal.
