 The UAE is setting an example to the world of how fast, easy, and secure digital payments can lead to a better economy. The UAE is building an ecosystem for its residents and tourists, especially from India, and aims to modernise the capabilities of its banking system along with its partners in these public and private institutions. This change will be fueled by the UAE’s decision to be a global center for digital finance as a part of its “We the UAE 2031 vision. A significant move in this journey is the UAE’s partnership with India and its Unified Payments Interface. UPI is Now Active in the UAE The NPCI International Payments Limited (NIPL), a subsidiary of India’s National Payments Corporation of India, has launched UPI in the UAE, which means;
This is a huge win for the over 7 million Indians who visit the UAE every year. Indian users can just scan and pay for everything from shopping at Dubai Duty Free to groceries More Than Just Tourism – It’s a Fintech Bridge This initiative is about more than just tourism. It’s about building a digital bridge between India and the UAE. With UPI, the UAE becomes the centerpiece of the South Asia Digital Corridor, which will allow for smoother money transfers, trade, and financial inclusion.”The UAE is at the forefront, making cross-border digital payments easier, particularly for Indian users. This is true financial innovation,” Satish Kumar Sivan, Consul General of India, Dubai, said. UAE’s Larger Fintech Vision The UPI partnership is just one part of a larger digital initiative in the UAE.
Digital lifeline for the Indian Diaspora
And it allows for small businesses in the UAE to conveniently tap into a tech-savvy Indian customer base. UAE Leads Digital Payment Innovation: India and UAE’s UPI Partnership Sets the Stage for a Cashless Economy |
