Prime Minister Modi launched the RuPay card in the UAE, now UPI will also work in the UAE.
In the UAE: Recently, India and the United Arab Emirates (UAE) have signed several agreements to integrate their respective instant payment systems – UPI (Unified Payments Interface) and UAE’s AANAI (online payment system). Prime Minister Narendra Modi is currently on a visit to the UAE, where significant decisions have been made regarding the integration of UPI in both countries.
RuPay launched in the UAE
Indian Prime Minister Narendra Modi has also launched the RuPay card in the UAE. Essentially, both India and the UAE have decided to link their domestic debit and credit cards. This means that now India’s RuPay card and UAE’s JAYWAN card will be interconnected, making it easier for citizens of both countries to make online payments, shop, or avail various card-related facilities in each other’s countries.
The purpose of these agreements is to facilitate cross-border digital transactions between the two countries. Speaking about the importance of these agreements, PM Modi said, “The integration of RuPay and JAYWAN card could mark the beginning of a new era in the fintech sector, enhancing financial cooperation.”
Additionally, both countries have also signed a Memorandum of Understanding (MoU) to enhance cooperation in digital infrastructure projects.
UPI available in 7 countries
It is noteworthy that last year, the Reserve Bank of India (RBI) and the Central Bank of the UAE signed an agreement to integrate UPI with UAE’s Instant Payment Platform (IPP). Prior to these events in the UAE, UPI services were recently launched in Sri Lanka and Mauritius as well. This has made digital transactions quite convenient for Indian citizens. It’s worth mentioning that UPI services are available in seven countries, including Nepal, Bhutan, Singapore, France, Mauritius, and Sri Lanka.
