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India’s Unified Payment Interface (UPI) Services Expanding to Sri Lanka and Mauritius

India’s Unified Payment Interface (UPI) services are set to be rolled out in Sri Lanka and Mauritius at a virtual ceremony on Monday. This event will be witnessed by Prime Minister Narendra Modi and the top leadership of the two island nations. Additionally, India’s RuPay card services will be launched in Mauritius at the same event.

Mauritian Prime Minister Pravind Jugnauth and Sri Lanka’s President Ranil Wickremesinghe will join Modi at the virtual ceremony, according to the Ministry of External Affairs (MEA).

“Prime Minister Narendra Modi, President of Sri Lanka Ranil Wickremesinghe, and Prime Minister of Mauritius Pravind Jugnauth will witness the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, and also RuPay card services in Mauritius on February 12 at 1 PM via video conferencing,” it said.

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Developed by the National Payments Corporation of India (NPCI), UPI is an instant real-time payment system that facilitates inter-bank transactions through mobile phones. RuPay is a global card payment network from India, with wide acceptance at shops, ATMs, and online.

The launch of the Indian services in Sri Lanka and Mauritius is taking place amid New Delhi’s increasing bilateral economic ties with the two countries

“India has emerged as a leader in Fintech innovation and Digital Public Infrastructure. The prime minister has placed a strong emphasis on sharing our development experiences and innovation with partner countries,” the MEA said in a statement.

Given India’s robust cultural and people-to-people linkages with Sri Lanka and Mauritius, the launch will benefit a wide cross-section of people through a faster and seamless digital transaction experience, and enhance digital connectivity between the countries.

“The launch will enable availability of UPI settlement services for Indian nationals traveling to Sri Lanka and Mauritius as well as for Mauritian nationals traveling to India,” it said.

“The extension of RuPay card services in Mauritius will enable Mauritian banks to issue cards based on RuPay mechanism in Mauritius and facilitate usage of RuPay card for settlements both in India and Mauritius,” it added.

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How AI legalese decoder Can Help

The AI legalese decoder can help businesses and individuals in Sri Lanka and Mauritius navigate the legal and technical aspects of UPI and RuPay services. By using AI-enabled technology, the legalese decoder can provide accurate and easily understandable translations of legal documents and contracts related to these financial services. This can help local businesses and banks ensure compliance and understanding of the terms and conditions associated with UPI and RuPay card services. Additionally, the AI legalese decoder can assist in translating complex legal jargon into plain language, making it easier for individuals and businesses in these countries to fully comprehend the implications of using these Indian payment systems.

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