Friday, 24 March, 2023

Simplifying payments: RuPay, UPI getting ready for global acceptance

<p>In a move to provide alternatives to Visa and Mastercard, the NPCI has planned to take RuPay and UPI to a global level, transforming these homegrown digital payment services to regional networks. NPCI has set up a subsidiary &ndash; NPIL &ndash; for this purpose and has appointed former Mastercard exec Ritesh Shukla as its CEO. This will be done by helping other countries develop their domestic networks and then collaborating them to enable cross-border payments.</p>