Indian Tourists Gain Broader UPI Payment Access in UAE Through NIPL and Magnati Partnership
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Synopsis
Indian travelers to the UAE can now use UPI for payments at more merchants as NIPL partners with Magnati. This collaboration aims to enhance payment experiences for the 12 million Indians visiting annually.
Key Takeaways
- UPI payments expanding in UAE.
- Partnership between NIPL and Magnati.
- Initial services at Dubai Duty-Free.
- 12 million Indians travel to UAE yearly.
- UPI recognized globally for efficiency.
New Delhi, Jan 16 (NationPress) Indian travelers heading to the United Arab Emirates (UAE) will soon enjoy the ability to utilize Unified Payments Interface (UPI) for transactions across a broader spectrum of merchant venues. This enhancement comes as NPCI International Payments Limited (NIPL) has announced a collaboration with Magnati, a prominent payment solutions provider in the Middle East.
This partnership's goal is to enrich the QR-based merchant payment network in the UAE, allowing a greater number of merchants to accept UPI as a payment option for Indian visitors.
Initially, the UPI service will be available at Dubai Duty-Free, specifically targeting Indian tourists, with plans to extend to various sectors, including retail, hospitality, transportation, and supermarkets, as stated by NIPL.
NIPL, representing the international division of the National Payments Corporation of India (NPCI), emphasized that this collaboration would facilitate hassle-free payment options for over 12 million Indians who travel to Dubai and the UAE every year.
Ritesh Shukla, the Chief Executive Officer (CEO) of NIPL, remarked, "This initiative reflects our vision of offering Indians a worldwide digital payments acceptance network, thereby enhancing their payment experiences while abroad. Moreover, it fosters deeper economic and cultural ties between India and the UAE."
Salim Awan, managing director of institutional payments solutions at Magnati, added, "This partnership is designed to enhance digital payments, streamline cross-border transactions, and create a smooth payment experience tailored for Indian travelers and NRIs. This collaboration underscores our commitment to innovative digital solutions and generating value through a globally interconnected ecosystem."
In 2023, India topped the list for the most visitors to Dubai, with approximately 11.9 million travelers, surpassing Saudi Arabia's 6.7 million and the United Kingdom's 5.9 million visitors.
Recognized globally, UPI is one of the most effective real-time payment systems, processing over 16 billion transactions in December 2024 alone.
Currently, UPI payments are accepted in seven countries, including Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France. More than 20 applications, such as BHIM, PhonePe, Paytm, and Google Pay, support international transactions.
