RuPay card, under India's instant payment system Unified Payments Interface (UPI), has been introduced in the Maldives.
RuPay card, under India's instant payment system Unified Payments Interface (UPI), has been introduced in the Maldives.
RuPay card services in Maldives was launched today during President Dr Mohamed Muizzu's ongoing official State visit to India.
Before a joint press briefing following President Muizzu's meeting this afternoon with Indian Prime Minister Narendra Modi, a live video was shown of the first RuPay transaction being made in the Maldives.
UPI payment was introduced in India in 2016. This is a real time payment system formed by NPCI to facilitate interbank transactions via mobile phones.
The service is available in 185 countries, including Singapore and UAE.
With the introduction of RuPay cards, these cards can now be used via Bank of Maldives' ATMs, POS machines and other digital channels. RuPay is a leading debit and credit card payment network in India.
The introduction of this service will provide convenience in transactions for Indians living in Maldives, as well Indian tourists visiting the country.
The service has been introduced under an MoU signed during August's visit to Maldives by India's Minister of External Affairs Dr Subrahmanyam Jaishankar. The agreement was signed between Ministry of Economic Development and Trade and National Payments Corporation of India.
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