NPCI International, BENEFIT Partner to Enable Cross-Border Payments

NPCI International Payments Limited (NIPL), the international arm of India’s National Payments Corporation (NPCI), has partnered with BENEFIT, Bahrain’s leading fintech and electronic financial transactions company, to facilitate real-time cross-border remittances between India and Bahrain. The partnership connects India’s Unified Payments Interface (UPI) with Bahrain’s Fawri+ electronic fund transfer system, enabling users in both countries to send and receive money instantly and securely.

Key Highlights of the Partnership

• Instant Transfers: Linking UPI and Fawri+ allows for real-time cross-border remittances.
• Secure Transactions: Ensures safe and efficient transfers between India and Bahrain.
• Financial Inclusion: Supports broader adoption of digital payments and inclusive financial systems.
• Strategic Corridor: Facilitates seamless remittances for the large Indian community in Bahrain, which makes up nearly 30% of Bahrain’s population.

NBBL Launches Forex Services on Bharat Connect

In a related development, NPCI Bharat BillPay Limited (NBBL), a wholly owned subsidiary of NPCI, has partnered with Clearcorp Dealing Systems (India) Ltd (Clearcorp), a subsidiary of the Clearing Corporation of India Ltd. (CCIL), to launch forex services on Bharat Connect.

Key Features

• Retail Forex Transactions: Customers can buy foreign currency, reload Forex Cards, or make outward remittances.
• Seamless Integration: Available through Third Party Application Providers (TPAPs) and mobile banking apps integrated with the Bharat Connect (BBPS) platform.
• Global Fintech Fest Launch: The service was unveiled during the Global Fintech Fest 2025.

Significance

This dual initiative is a major step toward,

• Enhancing cross-border payment connectivity between India and Bahrain.
• Modernizing forex and remittance frameworks for retail users.
• Promoting cost-effective and convenient international financial transactions.
• Strengthening India’s position as a digital payment leader globally.

Key Facts

• Partnership: NPCI International Payments Limited (India) & BENEFIT (Bahrain)
• Services Linked: India’s UPI & Bahrain’s Fawri+
• Objective: Instant, secure cross-border remittances
• Support: Reserve Bank of India (RBI) & Central Bank of Bahrain (CBB)
• Target Users: Indian community in Bahrain (~30% of population)
• NBBL Forex Services: Enabled via Bharat Connect & CCIL’s FX-Retail platform
• Transactions Supported: Buying foreign currency, reloading Forex Cards, outward remittances
• Launch Event: Global Fintech Fest 2025