SUMMARY
- NPCI is in talks with various countries in Africa and South America to build UPI-like digital payment systems, expecting two launches by early 2027.
- The NPCI has signed agreements with Peru and Namibia, aiming for system launches by late 2026 or early 2027.
- NIPL plans to enhance its international operations by doubling its team to support global payment initiatives.
The National Payments Corporation of India (NPCI) is actively engaging with countries in Africa and South America to establish digital payment systems based on India’s Unified Payments Interface (UPI). Ritesh Shukla, CEO of NPCI International Payments Ltd (NIPL), announced that they expect to launch two such systems by early 2027.
The NPCI, a public non-profit organization overseeing retail payment systems in India, has reported a significant rise in UPI transactions, with monthly volumes surging 41% to nearly 15 billion in August alone. The overseas arm, NIPL, was created to facilitate the adoption of India’s payment systems internationally.
NIPL is currently in discussions with approximately 20 nations across Africa and South America to develop a UPI-like infrastructure. The organization has already made strides by signing agreements with the central banks of Peru and Namibia, with plans to launch their systems by late 2026 or early 2027.
In addition to these efforts, NIPL is exploring collaborations to connect UPI with other countries’ real-time payment systems, such as Singapore’s PayNow. Currently, there are seven established links, with several more in progress.
To support its international initiatives, NIPL plans to double its team from 60 members by March 2025, expanding its presence beyond its existing staff in Singapore and the Middle East.
