 "UPI, UPI payments, UPI payment")
UPI’s success in India has led to global collaborations across several countries, and the UAE stands to benefit significantly from such integration given that it is a major destination for Indian tourists, he said. Photo: Shutterstock
A UAE-based business conglomerate has announced the acceptance of India’s Unified Payment Interface payments across its outlets in the country.
Unified Payment Interface (UPI) is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016.
The inaugural transaction using UPI at the Al Maya Supermarket was conducted in the presence of the Deputy Consul General of India in Dubai, Yatin Patel.
Kamal Vachani, Group Director and Partner of Al Maya Group, highlighted the convenience and benefits that UPI payments bring to Indian customers.
We are thrilled to be at the forefront of this innovative payment solution in the UAE. The introduction of UPI will not only enhance the shopping experience for our customers but also strengthen the economic ties between India and the UAE, Vachani said.
He said the availability of UPI payment services is expected to enhance convenience and ease of transactions for Indian visitors, benefiting both nations.
UPI’s success in India has led to global collaborations across several countries, and the UAE stands to benefit significantly from such integration given that it is a major destination for Indian tourists, he said.
With UPI’s proven track record and its growing acceptance worldwide, we are confident that this will pave the way for more seamless and efficient transactions, benefitting not just our customers but also the broader economy, he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jul 19 2024 | 6:44 PM IST
