Today: 24 August 2025
23 August 2021
1 min read

NPCI’s global arm partners Mashreq Bank for UPI payments

UPI is an instant real-time payment system developed by NPCI facilitating inter-bank transactions…reports Asian Lite News

NPCI International Payments Ltd (NIPL), the international arm of the National Payment Corporation of India (NPCI) has partnered with Mashreq, one of the leading financial institutions in the UAE, to offer acceptance of the Unified Payments Interface (UPI) in the UAE.

UPI is an instant real-time payment system developed by NPCI facilitating inter-bank transactions. It said in a statement that this partnership will enable over 2 million Indians who travel to UAE for business or leisure purposes every year to pay for their purchases using UPI-based mobile applications across shops and merchant stores in the UAE.

The strategic tie-up between the two entities will provide a considerable boost to the digital payment ecosystem in the UAE and will prove to be a major stepping stone for the wider reach of UPI in the international markets.

Ritesh Shukla, chief executive officer, NIPL said the organization is excited about the partnership with Mashreq Bank, which will enable consumers from India to transact seamlessly using NPCI’s UPI platform and deliver a seamless user experience.

Meanwhile, Kartik Taneja, executive vice-president (head of payments) at Mashreq Bank said that given the position of UAE as an international commerce and tourism hub, retail merchants in the Emirates always enable the latest payment methods that are expected by our international clients.

“Innovation has been at the core of what Mashreq does, and we have a proud history of introducing omnichannel solutions that benefit our customers and the UAE’s economy. We are the first in this market to partner NIPL and offer cutting-edge mobile-based digital payments to our clients,” said Taneja.

According to the statement, UPI is amongst the most successful real-time payments systems globally, providing – simplicity, safety, and security in person to person (P2P) and person to merchant (P2M) transactions. In 2020, UPI allowed transactions worth $457 billion, which is equivalent to approximately 15% of India’s gross domestic product (GDP).

ALSO READ: Biden thanks UAE for evacuation operations in Afghanistan

Previous Story

ADFD marks 50th anniversary of founding

Next Story

Lebanon to raise fuel prices in bid to ease crippling shortages

Latest from -Top News

‘FAMINE’

UN Secretary-General Antonio Guterres says living situation in Gaza can be described as “famine”…reports Asian Lite News United Nations (UN) Secretary-General Antonio Guterres said that the word “famine” could be used to

Ban Coal Exports to Israel

More than 100 pro-Palestine activists launched protests on Thursday in three major South African cities, calling on the government to ban coal exports to Israel…reports Asian Lite News Pro-Palestine activists are pictured

US sanctions more ICC judges

Washington hits at The Hague with fresh sanctions on four ICC judges and prosecutors, including French and Canadian officials, over probes targeting Israel and US actions abroad….reports Asian Lite News The United

UAE Wows Osaka!

The UAE Pavilion at Expo 2025 Osaka celebrates its three millionth visitor, blending culture, innovation, and hospitality in an immersive showcase of heritage, sustainability, and forward-looking global vision….reports Asian Lite News The

MBS & Sisi talk ties, Palestine

The two leaders reviewed the historic and strategic relations between Riyadh and Cairo and explored new ways to bolster cooperation…reports Asian Lite News Saudi Crown Prince and Prime Minister HRH Mohammed bin
Go toTop

Don't Miss

Heavy rainfall : Sharjah Municipality deploys 65 community service patrols

The municipality employs all available resources, including its vehicle fleet,

Toyota Corolla accomplish 50M global sales

Toyota Corolla achieves a global sales milestone of 50 million