India’s promising Unified Payment Interface (UPI) services were launched in Sri Lanka and Mauritius on Monday in the virtual presence of PM Narendra Modi.
RuPay card services were also launched in Mauritius.
Apart from Modi, the event was also attended by Sri Lankan President Ranil Wickremesinghe and Mauritius PM Pravind Jugnauth.
Pravind Jugnauth said co-branded Rupay cards will be designated as domestic cards in Mauritius.
What did Indian PM Narendra Modi say during the event?
Underlining that fintech connectivity will further strengthen cross-border transactions and connections, Modi said: “India’s UPI or United Payments Interface comes in a new role today – Uniting Partners with India.”
Speaking about the convenience and speed of UPI transactions, the Prime Minister informed that more than 100 billion transactions took place via UPI last year worth Rs 2 lakh crores or 8 trillion Sri Lankan rupees or 1 trillion Mauritius rupees.
The Prime Minister also mentioned making last-mile delivery through the GEM Trinity of bank accounts, Aadhar and mobile phones where Rs 34 lakh crores or 400 billion US dollars has been transferred into the bank accounts of beneficiaries.
Modi informed that with CoWin Platform India conducted the world’s biggest vaccination programme.
“Use of technology is promoting transparency, reducing corruption and increasing inclusivity in society”, the Prime Minister said.
The Prime Minister expressed the confidence that connection with UPI will benefit Sri Lanka and Mauritius and digital transformation will get a boost, local economies will witness positive change and tourism will be promoted.
“I am confident that Indian tourists will give priority to destinations with UPI. People of Indian origin living in Sri Lanka and Mauritius and students studying there will also get special benefits from it”, the Prime Minister added.
PM Modi expressed delight that after Nepal, Bhutan, Singapore and UAE in the Gulf in Asia, now from Mauritius RuPay card is being launched in Africa.