UPI Payment: Digital Payment is a big success in India’s Digital Revolution. UPI (Unified Payments Interface) has become the easiest medium in every small to big payment in every corner of the country. In such a situation, there is a lot of appreciation for this method of payment in foreign countries as well. Many countries of the world are learning about this revolution from India, while many countries are making the path of digital payment easier with the help of India.
Prime Minister Narendra Modi on Tuesday launched cross-border connectivity between Singapore’s ‘Unified Payments Interface (UPI)’ and ‘PAYNOW’ through video conferencing with Singapore Prime Minister Lee Hsien Loong. Singapore has become the 6th country where UPI payment can be possible. Prime Minister Narendra Modi said, “This linkage will provide a low-cost real-time payment option to the people of both countries and increase remittances. This will benefit students, professionals, NRIs and their families the most.”
UPI Payment can be done in these countries
Even before Singapore, India has signed MoUs with many other countries regarding UPI payment. After Singapore, now this number has increased to 10. This list includes Australia, Canada, Hong Kong, (Singapore, Australia, Canada, Hong Kong) Oman, Qatar, America, Saudi Arabia, UAE and UK, in which UPI payment can be possible.
UPI payment is already happening in these countries
Earlier, UPI Payment has been started in countries like Bhutan, Nepal, Malaysia, Oman, UAE. Nepal is the first country where India started cross-border connectivity.
‘Cross-border connectivity’ between India’s UPI and Singapore’s Paynow has started from today. It was launched by Shaktikanta Das, Governor of the Reserve Bank of India (RBI) and Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS). Prime Minister Narendra Modi and Prime Minister of Singapore Lee Hsien Loong witnessed this historic moment.
Digital Payment The world is appreciating India
In the era of digital revolution, India is at the forefront of digital payments. Heads of many countries like Japan have also praised India for this initiative. Along with this, IMF and World Bank have also praised this initiative of India.
New era of digital payment: India’s UPI and Singapore’s Paynow will be connected … Transaction will be easy