Business

Network International (Network), a leading digital commerce enabler in the Middle East and Africa (MEA) region, has partnered with NPCI International Payments Ltd. (NIPL) to facilitate the acceptance of Unified Payments Interface (UPI) payments via QR codes across Network’s point-of-sale (POS) terminals in the UAE. This collaboration aims to streamline cross-border transactions for Indian tourists visiting the UAE.

The announcement was made at an event in Dubai, attended by His Excellency Satish Kumar Sivan, Consul General of India to the UAE, alongside senior representatives from Network International and NPCI International.

Network International’s extensive merchant network, which includes over 200,000 POS terminals across more than 60,000 merchants in sectors such as retail, hospitality, transport, and supermarkets, will progressively roll out UPI acceptance. This initiative will encompass a variety of establishments, from retail stores and dining outlets to major tourist and leisure attractions like Dubai Mall and Mall of the Emirates.

This partnership aligns with the UAE’s vision of strengthening its status as a premier tourist destination and global commerce hub. The number of Indian tourists traveling to Gulf Cooperation Council (GCC) countries is projected to reach 9.8 million in 2024, with the UAE expecting 5.29 million arrivals from India, driven by business, employment, and leisure travel.

UPI, India’s largest instant payment system, boasts over 350 million active users and processed 14.04 billion transactions in May 2024 alone. By enabling UPI acceptance at its POS terminals, Network provides a secure QR-based method for cross-border payments, allowing Indian tourists and NRIs with Indian bank accounts to use UPI for transactions in the UAE.

Nandan Mer, Group CEO of Network International, expressed excitement about the partnership, saying, “We are delighted to partner with NPCI International Payments Limited to strengthen the payments ecosystem for Indians visiting or working in the UAE. By enabling customers to pay in their preferred method, we are one step closer to realising our vision to empower businesses and merchants with the latest payment technologies and strengthening the vision of a digital UAE. We are confident that this partnership will drive a robust digital payments ecosystem in the country that will increase cashless transactions.”

Jamal Al Nassai, Group Managing Director for Merchant Services – Middle East and North Africa at Network International, added, “The launch of this partnership is a milestone for our extensive merchant network, which stands to benefit immensely from the new payment method. As the leading acquirer in the region, Network will leverage its 30-year legacy of technological innovation to enable acceptance of UPI-based payment apps to its merchants to drive global interoperability.”

Ritesh Shukla, CEO of NPCI International, highlighted the significance of the collaboration, stating, “Our partnership with Network International will deepen UPI’s presence in the UAE. By growing UPI payment acceptance across merchants in the UAE, we are not only providing Indian travellers with a seamless and familiar payment experience, but also promoting the use of innovative digital payment solutions internationally. This collaboration exemplifies our commitment to driving technological advancement and creating a more connected global payment ecosystem.”

• Tags
• #Business
• #Magazine
• #Lifestyle