RuPay in UAE, UPI in US? Here's what FM said

Finance minister Nirmala Sitharaman, who is on a visit to the US, has said that several countries are showing interest in accepting India-made payment systems like the Unified Payment Interface (UPI).

Sitharaman said India is talking to sifferent countries to make India-made payment systems go global. "Singapore and UAE have all come forward now to make Rupay acceptable in their countries," she said.

As per its official website, RuPay is the first global payment network developed by India, with wide acceptance at ATMs, POS devices and e-commerce platforms across the country.

Replying to a student's question on if UPI will be made available in India, Sitharaman said, "We are working together with several countries." However, she did not confirm anything.

UPI has been a major hit in India with crores of transactions being done each year. The NPCI has recently collaborated with French multinational payment services firm Worldline to make Indian digital payment modes possible in Europe.

"The UPI, the BHIM app, and NCPI are all now being worked in such a way that their systems in their respective country, however, robust or otherwise can talk to our system and the inter-operability itself will give strength for Indians expertise in those countries," the FM said.