India Expands Fintech Diplomacy: Launches UPI and RuPay Services in Sri Lanka and Mauritius

 Leaders of India, Sri Lanka, and Mauritius Unite for Historic Digital Payment Integration
Date:February 11, 2024

In a groundbreaking move, India is set to launch its Unified Payment Interface (UPI) service in Sri Lanka and Mauritius on February 12, marking a significant stride in expanding its digital footprint globally. Prime Minister Narendra Modi, along with Sri Lankan President Ranil Wickremesinghe and Mauritius Prime Minister Pravind Jugnauth, will partake in a historic video conference to witness the launch.

The extension of UPI services will enable seamless digital transactions for Indian nationals visiting Sri Lanka and Mauritius, as well as Mauritian nationals traveling to India. Additionally, Mauritius will witness the introduction of India's RuPay card services, allowing Mauritian banks to issue cards based on the RuPay mechanism and facilitating cross-border settlements.

India's fintech prowess has been increasingly recognized on the international stage, with Bhutan being the first country to adopt UPI in 2021. Since then, the service has been launched, either fully or partially, in Oman, the United Arab Emirates, Nepal, and France.

The move aligns with Prime Minister Modi's commitment to sharing India's developmental experiences and innovation with partner countries, emphasizing the nation's robust cultural and people-to-people linkages with Sri Lanka and Mauritius. The launch is expected to enhance digital connectivity between the countries and provide a faster, seamless digital transaction experience for a wide cross-section of people.

As India emerges as a leader in fintech innovation and digital public infrastructure, the UPI and RuPay connectivity with Sri Lanka and Mauritius signals a new era of collaboration in the digital finance domain. The event is scheduled for February 12, 2024, at 1:00 PM, marking a historic moment in the global expansion of India's digital payment services.