Categories: Business

BHIM UPI became operational at NEOPAY terminals in the UAE

NPCI International Payments Ltd (NIPL), the International arm of the National Payment Corporation of India has announced that BHIM UPI is now live at NEOPAY terminals, across the UAE. This initiative will empower millions of Indians who travel to the UAE, to safely and conveniently make payments using BHIM UPI. NIPL and NEOPAY, the payment subsidiary of Mashreq bank, partnered last year to create the acceptance infrastructure in the UAE.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

With the acceptance of BHIM UPI in the UAE, Indian tourists can now make seamless payments through BHIM UPI across NEOPAY enabled shops and merchant stores. This partnership will play a key role in transforming the P2M payment experience for Indian travellers in the UAE. The implementation of the BHIM UPI in the UAE is a stepping stone toward providing a major boost to digital payments in the country.

About the Unified Payments Interface:

Unified Payments Interface (UPI) is an instant real-time payment system developed by the National Payments Corporation of India for facilitating inter-bank transactions. The simple, safe, cost-effective mobile-based payments system has become one of the most prominent forms of digital payments. In the Financial year 2022 (FY22), UPI enabled 45.6 Billion transactions, worth USD 1 Trillion, making it the best performing real-time payment eco-system in the world.

Important takeaways for all competitive exams:

  • NPCI International Payments Ltd Establishment: 2020;
  • NPCI International Payments Ltd Headquarters: Mumbai, Maharashtra;
  • NPCI International Payments Ltd CEO: Ritesh Shukla.

Find More Business News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.

Recent Posts

Which District of Gujarat is Known as the Brass City?

Gujarat, located in western India, is famous for its rich cultural heritage, historical landmarks and…

2 mins ago

ISRO, ESA Join Hands for Human Spaceflight Advancements

The Indian Space Research Organisation (ISRO) and the European Space Agency (ESA) have signed a…

9 mins ago

Trump Appoints Sriram Krishnan as Senior AI Policy Advisor

US President-elect Donald Trump has appointed Indian-American entrepreneur, venture capitalist, and author Sriram Krishnan as…

38 mins ago

India to Host ISSF Junior World Cup 2025

India has been announced as the host of the International Shooting Sport Federation (ISSF) Junior…

48 mins ago

Which District of Maharashtra is Known as California of India?

Maharashtra, located in western India, is the second most populous state in the country and…

54 mins ago

SEBI Bans 9 Entities, Impounds ₹21 Crore in Front-Running Case

The Securities and Exchange Board of India (SEBI) has issued an interim order banning Sachin…

1 hour ago