The collaboration aims to expand the QR-based merchant payment network in the UAE by enabling more merchants to provide UPI as a payment.
New Delhi: NPCI International Payments Limited (NIPL) on Wednesday announced a partnership with UAE-based payment solution provider Magnati to advance QR-based Unified Payments Interface (UPI) merchant payments via point-of-sale (POS) terminals in the Middle East.
The collaboration aims to expand the QR-based merchant payment network in the UAE by enabling more merchants to provide UPI as a payment method to Indian travellers, NIPL, the international arm of the National Payments Corporation of India (NPCI), said in a statement.
UPI is recognised as one of the world’s most successful real-time payment systems, processing over 16 billion transactions in December 2024 alone.
With this partnership, NIPL can provide seamless payment options to more than 12 million Indians travelling to Dubai and the UAE annually, it said.
It plugs an Indian solution into the global digital payments network and allows UAE merchants to cater to a growing Indian consumer base, it said.
The partnership will initially offer UPI acceptance across Dubai Duty-Free, enhancing the shopping and payment experience for Indian tourists, it said.
It will further pave the way for future expansion across key merchant categories including retail, hospitality, transport, and supermarkets, among others, it said.
By expanding UPI acceptance into key markets like the UAE, NPCI International is showcasing India’s leadership in digital payment innovation on a global stage, it said, adding, that it will set a benchmark for cross-border payment interoperability and help build stronger economic and cultural ties between India and the world.
