UPI was launched after Hamad International Airport in Lulu Group stores in Qatar. Details here

India has expanded the Unified Payments Interface (UPI) services by starting it at Lulu Group’s stores in Qatar on Monday, following the initial launch at service -free outlets in Hamad International Airport last month. Trade and Industry Minister Piyush Goyal launched the facility in a Lulu store and said it would help facilitate smoother and more cost-effective capital movement between the two countries. Last month, NPCI International Payments Ltd (Nipl), in collaboration with Qatar National Bank (QNB), launched UPI at terminal in the entire Qatar for traders served by QNB. The latest launch is part of a collaboration between NPCI International Payments Ltd (Nipl), Qatar National Bank (QNB) and the Japanese Payments Gateway Netstars. Piyush Goyal on the latest launch Goyal also encouraged other banks and institutions in Qatar to adopt UPI. “The introduction of UPI and UPI transactions is not only a digital payment solution, but has the potential to revolutionize the trade between Qatar and India. It is an opportunity to expand our trust between the two nations because we can seamlessly integrate the payment systems of Qatar and India, we will be able to trade at lower costs. Quyal. He mentioned that the transfer of money and capital will occur faster, almost in real-time and at a ‘very low’ cost. “Extensive trade will be further strengthened with the acceptance of UPI … I thank QNB for recording UPI as part of their payment systems,” Goyal said. He argued that this launch would benefit 8,30,000 Indians by making their overpayments faster and more affordable. Qatar has become the eighth country to adopt UPI, enabling Indians to make real -time, cashless payments and reduce their reliance on foreign exchange or international charts. UPI aims to benefit Indian travelers and local Qatari businesses by encouraging digital payments. It improves India’s global financial presence and offers tourists more comfort and security in busy commercial areas. Goyal said the UPI was launched nine years ago and is a huge success story in India. He said that 85% of Indian digital payments are processed via UPI, and that nearly 50% of global digital payments are now taking place through UPI, with an average of 640 million transactions daily. He said it is exciting to see how QNB serves as a link between NPCI, the developer of the UPI platform and Lulu Group, which offers digital payments via UPI to all its clients.