• NIPL in advanced talks with multiple countries, with significant progress made in agreements with Peru and Namibia.

India is poised to extend its innovative digital payment infrastructure beyond its borders, engaging in discussions with several countries in Africa and South America to implement systems modeled after its highly successful Unified Payments Interface (UPI).

The National Payments Corporation of India (NPCI), through its international arm, NPCI International Payments Ltd (NIPL), aims to facilitate the establishment of real-time payment systems in these regions, with expectations of launching two such systems by early 2027.

UPI has emerged as a cornerstone of India’s digital economy, facilitating nearly 15 billion transactions in August alone, marking a remarkable 41 per cent increase in monthly volumes.

The success has prompted Indian officials to share their expertise with other nations, fostering financial inclusion and modernisation in the global landscape.

Exploring partnerships

Ritesh Shukla, CEO of NIPL, has indicated that the organisation is in advanced negotiations with multiple countries, with significant progress made in agreements with Peru and Namibia.

These nations are set to unveil their UPI-like systems by late 2026 or early 2027, showcasing India’s commitment to enhancing global payment systems.

In addition to these collaborations, NIPL is actively exploring partnerships with other countries, with Rwanda noted as a potential candidate for serious discussions.

The overarching goal of these initiatives is not only to establish new payment systems but also to create linkages with existing real-time payment platforms, such as Singapore’s PayNow. Currently, seven such connections are operational, with several more anticipated in the near future.

To support this ambitious agenda, NIPL plans to significantly expand its workforce, aiming to double its team of 60 members by March 2025.

This increase will enable the organisation to deploy more personnel overseas, thereby enhancing its capacity to facilitate the international adoption of India’s digital payment solutions.