Today: 4 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

US Mulls Terror Tag for Muslim Brotherhood

The US’ plan to designate the Muslim Brotherhood as a terrorist group comes after a bipartisan bill was introduced by Republican Congressman…reports Asian Lite News The US is once again edging closer

Hamas Sets Terms For Disarmament

HAMAS: ‘The resistance and its weapons will not be abandoned until our full national rights are restored, foremost among which is the establishment of an independent, fully sovereign Palestinian state’ Hamas affirmed

Statehood For Palestine

Analysts see the general move as a deliberate push to revive a stagnant peace process long controlled by Israel, Hamas and the United States, all of whom, they say, have shown little

IBPC Dubai charts new growth path

Former Tata Motors CEO Ravi Kant headlines exclusive event as Indian business council sets course for transformation….reports Asian Lite News The Indian Business & Professional Council (IBPC) Dubai has signalled a significant

Miles in the Malls!

Dubai Mallathon kicks off today – The emirate’s biggest malls transform into indoor fitness arenas, inviting residents to walk, run, and win — all while staying cool, healthy, and community-connected….reports Asian Lite
Go toTop

Don't Miss

MBZ visits farm research centre on environment day

President Sheikh Mohamed bin Zayed Al Nahyan has visited the

Abdullah meets Yemen’s Leadership Council Chairman

Sheikh Abdullah commended the well-established historical and brotherly relations between