NPCI International and Network International collaborate to expand UPI QR code availability in the UAE and Middle East, enhancing digital payment accessibility.
Implementation of UPI QR Payments
- Partnership Details: NPCI International partners with Network International, a major digital commerce player in the Middle East and Africa.
- Objective: Facilitate QR code-based UPI payments through Network’s POS terminals in the UAE.
- Beneficiaries: Targeted towards Indian tourists and Non-Resident Indians (NRIs) for seamless transactions.
Benefits and Impact
- Enhanced Convenience: Offers familiar payment experience to Indian travellers in the UAE.
- Promotion of Digital Payments: Encourages international adoption of UPI as a secure and innovative payment solution.
Stakeholder Perspectives
- Ritesh Shukla’s Statement: CEO of NPCI International highlights the strategic importance of expanding UPI acceptance in the UAE.
- Tourism Projections: NPCI anticipates significant Indian tourist influx into GCC countries, particularly 5.29 million arrivals in the UAE by 2024.
Multiple Choice Questions (MCQs) with Answers:
- Who collaborated to expand UPI QR codes in the UAE and Middle East?
- A) RBI and NPCI
- B) NPCI International and Network International
- C) NPCI and UAE Government
- D) Network International and Indian Government
- Answer: B) NPCI International and Network International
- What is the primary objective of introducing UPI QR payments in the UAE?
- A) To promote tourism
- B) To enhance digital payment accessibility
- C) To support local businesses
- D) To attract foreign investment
- Answer: B) To enhance digital payment accessibility
- According to NPCI, how many Indian tourists are projected to visit GCC countries in 2024?
- A) 5.29 million
- B) 9.8 million
- C) 4.5 million
- D) 10.5 million
- Answer: B) 9.8 million
- Where is UPI officially accepted outside of India and Nepal?
- A) Sri Lanka, Mauritius, UAE
- B) Nepal, Singapore, France
- C) UAE, Singapore, Bhutan
- D) Nepal, France, Bhutan
- Answer: C) UAE, Singapore, Bhutan