Reserve Bank governor Shaktikanta Das on Monday said since the activation of the linkages between UPI and Singaporean counterpart Paynow, many countries have expressed keen interest in entering into such collaboration on the payments front and expressed the hope to sign up at least half a dozen countries soon.
Since the launch of the UPI-Paynear collaboration 10 days ago, 120 inbound transactions from and 22 outbound transactions to Singapore have been processed, while in-bound UPI transactions have seen 30 users from 10 countries being on-boarded with 77 merchant payments made, Das told reporters here announcing the RBI’s Digital Payments Awareness Week.
“We’ve taken steps for the internationalisation of our payment systems and cross-border linkage of fast payment systems of India and Singapore through the UPI-Paynow linkages from February 21. This linkage is in addition to the QR code-based and UPI-enabled P2M payments already happening in Bhutan, Singapore and the UAE,” Das said.
