NPCI International Payments Limited (NIPL) has joined forces with Middle Eastern payment solutions provider Magnati to extend QR-based UPI merchant payments in the UAE.
NIPL is the international arm of the National Payments Corporation of India (NPCI).
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This alliance is set to enhance the payment landscape for Indian travellers by integrating UPI with Magnati’s point-of-sale terminals.
It aims to expand the QR-based merchant payment network in the UAE, allowing merchants to offer UPI to over 12 million Indians who visit Dubai and the UAE annually.
The partnership is kicking off with UPI acceptance at Dubai Duty Free to improve the shopping experience for Indian tourists.
Dubai Duty Free (DDF) is a travel retail operator, tasked with duty-free selling operations at Dubai International Airport and Al Maktoum International Airport.
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By GlobalDataThe initiative is expected to expand further by covering merchant categories including retail, hospitality, transportation, and supermarkets.
NIPL CEO Ritesh Shukla stated: “The partnership with Magnati is a strategic step towards expanding UPI acceptance in the UAE. It offers Indian travellers a seamless and familiar payment experience at premier destinations like Dubai Duty-Free. This collaboration aligns with our vision of providing Indians with a global digital payments acceptance network and enhancing their payment experience abroad.”
Magnati institutional payments solutions MD Salim Awan said: “With the NPCI International collaboration, Magnati has expanded its alternative payment channels network for Dubai Duty Free as this partnership aims to bolster digital payments, facilitate cross border payments and provide a seamless payment experience catering to the Indian travellers and NRIs.”
UPI payments are currently accepted in seven countries, namely Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France, according to Business Standard.
Last month, the NPCI deferred the implementation of a market share cap for UPI transactions.
Originally scheduled to take effect by the end of 2024, the enforcement of this cap has now been postponed until the end of December 2026.
