India extends the global reach of UPI: Discussions with eight more countries are taking place

India is not just going to use its UPI (Unified Payments Interface) domestically alone; it is going to expand its adoption on the international market. Financial Services Secretary M. Nagaraju disclosed on Friday that discussions with about eight more countries, mainly in East Asia and some others, are in progress to allow effortless UPI payments for Indian businesses and travellers worldwide.

UPI is now being accepted officially in eight nations:

Bhutan, Singapore, Qatar, Mauritius, Nepal, UAE, Sri Lanka, and France.

The ongoing international adoption of UPI permits Indian users to make payments while traveling simply the same as they would do at home, thus, enhancing convenience and globally increasing India’s digital presence.

During a seminar on Harnessing AI and Digital Public Infrastructure for Viksit Bharat, Nagaraju pointed out the driving force behind UPI’s global expansion.

“We are now in talks with around 7–8 countries, a lot of them being East Asian ones, to allow UPI transactions,” the speaker said.

Moreover, he stated that UPI integration discussions are now a regular part of the trade negotiations India is involved in with different countries. The primary aim is to open up more avenues for the Indian fintech ecosystem which has been instrumental in the rapid growth of UPI.

“By engaging in trade talks we are trying to build a UPI track so that our fintech industry, with its advantages of cost and scale, may benefit and strengthen India's position in global financial services,” Nagaraju further explained.

In the wake of India's push for UPI's global availability, the giant step is deemed to stamp-across borders digital currents, give power to the travelers, and display India's leadership in the technology payment arena.