RuPay services have been made available in Maldives for Indian nationals.
India's RuPay card which commenced services in Maldives today will strengthen financial transactions between both countries and facilitate trade with India, said the Ministry of Economic Development today.
The RuPay card was introduced to the Maldives today under India's Unified Payment Interface (UPI). The service was inaugurated during President Dr. Mohamed Muizzu's ongoing trip to India, prior to the joint statement with Indian Prime Minister Narendra Modi.
According to the statement by the Economic Ministry, the RuPay service is an important step to strengthen Maldives' financial system within modern technology when used in business transactions and fortify bilateral relations between the two countries.
Since Indian tourists also play a significant role in Maldives' tourism industry, RuPay card would also ease financial transactions for them as well, the Ministry said.
“India is a key trading partner for Maldives and the RuPay card service will facilitate financial transactions between the two countries and further expand trade with India, especially for small and medium enterprises,” the statement said.
The Ministry said introduction of RuPay service is part of President Dr Mohamed Muizzu's pledge to bring payment wallets and digital finance systems to the Maldives.
Although RuPay card services are now available in Maldives, the service can only be used by Indian nationals. Although India is frequented by Maldivians who seek medical treatment there, the service is not available for Maldivians yet.
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