Question: Which country will become the first country to adopt India’s UPI platform?
(a) Nepal
(b) Sri Lanka
(c) Bangladesh
(d) Bhutan
Answer: (a)
Related Facts:
- Nepal will be the first country to adopt India’s UPI system.
- NPCI International Payments Limited (NIPL) has partnered with Gateway Payments Service Pvt Ltd and ManamInfotech Private Limited to deploy Unified Payments Interface(UPI) in Nepal.
- Gateway Payments Service Pvt Ltd is an authorized Payment System Operators in Nepal.
- The partnership aims to support interoperable real-time Person to person (P2P) and Merchant payment transactions (P2M) in Nepal.
- Nepal shall be the first country outside of India to adopt UPI as the payments platform driving the digitalization of cash transactions.
- This collaboration will enable the last-mile consumers in Nepal to reap the benefits of an open interoperable payments system driving immediate payment transfers between bank accounts and merchant payments in real-time.
- It will also enable the way forward for real-time cross-border P2P remittances between Nepal and India.
- UPI is amongst the most successful real-time payments (RTP) systems globally, providing – simplicity, safety, and security in person to person (P2P) and person to merchant (P2M) transactions in India.
BY: AMIT GUPTA