India, home to more than a billion people, is set to see a global expansion of the Unified Payment Interface, or UPI, which is the country s most widely used payment system. Find out more here.
India News: NEW DELHI: Prime Minister Narendra Modi on Thursday explained the Unified Payments Interface (UPI) digital payments system to visiting French Presiden.
"Like in many good initiatives, there are chinks in the armour; Charlatans commit Cyber Crimes and create byzantine maze of accounts, through which ill-gotten wealth is moved and parked", the Court said.
In 2022, the National Payments Corporation Of India (NPCI), the umbrella organisation offering UPI services, signed a memorandum of understanding (MoU) with France s fast and secure online payment system, called Lyra. In 2023, UPI and Singapore s PayNow signed an agreement, allowing users in either country to make cross-border transactions.