NEW DELHI: India’s Unified Interface Payment (UPI) technology will now be accepted in Sri Lanka. Several agreements, including that of UPI’s acceptance in the island country, were exchanged between India and Sri Lanka in the presence of Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe in the national Capital on July 21.
The UPI payments system has become hugely popular for retail digital payments in India, and its adoption is increasing at a rapid pace. So far, France, UAE, and Singapore had parterned with India on the emerging fintech and payment solutions.
UPI is India’s mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly, using a Virtual Payment Address (VPA) created by the customer.
