365Telugu.com online news, Mumbai, 17th January, 2025: NPCI International Payments Limited (NIPL), the global arm of the National Payments Corporation of India (NPCI), has joined forces with Magnati, a prominent payment solutions provider in the Middle East, to introduce Unified Payments Interface (UPI) acceptance across the UAE.
This partnership will enable Indian travelers to make QR-based UPI payments through Magnati’s advanced point-of-sale (POS) terminals, marking a significant milestone in cross-border digital payments.
As one of the most successful real-time payment systems globally, UPI processed over 16 billion transactions in December 2024 alone. This partnership will offer seamless payment experiences to over 12 million Indian visitors to Dubai and the UAE each year, allowing merchants to cater to the growing Indian consumer base and integrating an Indian payment solution into the international digital payments ecosystem.
Key Highlights
- UPI at Dubai Duty Free: Initially, UPI payments will be available at Dubai Duty Free, enhancing shopping convenience for Indian tourists.
- Expansion Across Sectors: Future plans include extending UPI acceptance to other key sectors such as retail, hospitality, transportation, and supermarkets.
- Seamless Payment Experience: Indian travelers can enjoy a familiar, quick, and secure payment method while abroad.
Leadership Insights
Ritesh Shukla, CEO of NPCI International, commented:
“The partnership with Magnati is a pivotal move to broaden UPI’s global footprint. By enabling UPI acceptance at premier destinations like Dubai Duty Free, we are delivering a seamless and familiar payment experience for Indian travelers.
This collaboration strengthens the economic and cultural ties between India and the UAE while setting new standards for global digital payment interoperability.”
Salim Awan, Managing Director of Institutional Payment Solutions at Magnati, added:
“Our partnership with NIPL expands Magnati’s alternative payment channels at Dubai Duty Free, catering to Indian travelers and NRIs.
This initiative is a testament to our commitment to providing innovative digital payment solutions and creating a globally connected ecosystem for seamless cross-border transactions.”
Ramesh Cidambi, CEO of Dubai Duty Free, remarked:
“Integrating UPI into our payment acceptance system through Magnati underscores our focus on innovation and customer-centric solutions. It reinforces Dubai Duty Free’s position as a premier shopping destination, offering secure and hassle-free payment options to Indian tourists.”
Strengthening Global Payment Networks
This partnership not only highlights India’s leadership in digital payment innovation but also fosters stronger economic and cultural connections between India and the UAE. Expanding UPI acceptance in key global markets sets a benchmark for cross-border payment interoperability and opens new avenues for collaboration in the international payments ecosystem.