TerraPay has signed MoU with NPCI International Payments Limited (NIPL) to allow Indian customers with an active UPI ID to receive real-time, international payments into their bank accounts via TerraPay’s secure payments technology. It will enable a seamless and convenient cross-border remittances experience. NIPL is an international arm of the National Payments Corporation of India (NPCI).
This association with NIPL will allow Indians with an active UPI ID to receive real-time, international payments into their bank accounts via TerraPay’s adaptive and secure payments technology. The intended collaboration will now further empower UPI users to leverage TerraPay’s agile interoperable payments infrastructure to receive payments on a fully regulated, secure, scalable, and efficient channel.
Globally, TerraPay processes payouts into 4.5 billion+ bank accounts and 1.5 billion+ mobile wallets. With the vision to foster financial inclusion, residents, POI’s, Indian diaspora will be able to send money to India by using TerraPay’s agile, transparent and real-time payment channel.
Important takeaways for all competitive exams:
- NPCI Founded: 2008;
- NPCI Headquarters: Mumbai, Maharashtra;
- NPCI MD & CEO: Dilip Asbe.