The Caribbean country of Trinidad and Tobago has now joined the list of countries where you can use your UPI (Unified Payment Interface) payment mode. This move will strengthen digital cooperation between India and Trinidad and Tobago.
In the future, ‘India Stack’ solutions like DigiLocker, e-Sign and Government e-Marketplace (GeM) are also being considered for implementation there.
UPI has become a global identity
During Prime Minister Narendra Modi’s recent official visit to Trinidad and Tobago, he congratulated the country for adopting UPI. This is a significant achievement for India, as it is enhancing the global identity of UPI. It shows that India’s digital payment system is being accepted all over the world.
Which countries have India’s UPI?
With the addition of Trinidad and Tobago, there are now a total of 8 countries where the UPI payment facility is available. These countries also include France, Bhutan, Mauritius, Nepal, Singapore, Sri Lanka and the UAE. However, the service is currently available only at select merchant outlets, but it is expected to expand in the future.
When a country adopts UPI, it means that it is integrating UPI into its financial ecosystem. This allows their citizens and businesses to use UPI for transactions. This is either done in collaboration with Indian companies, or they develop their own UPI-like system.
Convenience for Indian Tourists
This is a big relief for Indian tourists visiting countries that have adopted UPI. They can make payments to local merchants directly from their Indian bank accounts through UPI-based apps like Google Pay or PhonePe. This will eliminate the need for them to exchange foreign currency and make the payment process much easier.
Benefits for NRIs and Local Citizens
NRIs or local citizens living in these countries can also take advantage of UPI. They can easily send money to India with the help of UPI, which will reduce the transaction cost and also speed up the process. This will make financial transactions between India and these countries easier.
These facilities can also be implemented.
There is immense potential for cooperation between India and these countries in the digital domain. This expansion of UPI is just the beginning. In the future, other solutions like DigiLocker, e-Sign and Government e-Marketplace (GeM) can also be implemented in these countries, which will further boost the digital economy.
Most Read Articles:-
-
Weather Update: Heavy rain alert in these states for 3 days! Be careful of the winds
-
What Are the Rights of a Husband in his wife’s property ?
-
Central Government Has Announced 4% Reservation For the Disabled in its Housing Scheme
-
Golden Visa Rule: UAE Has Introduced a New ‘Nomination Based Golden Visa’, You Can Apply From Home
-
What is APAAR ID? Key Feature, Benefits And Apply Online
