India to help countries in Africa and South America to build UPI-like payments systems, launches expected in…

India is said to be in talks with countries in Africa and South America to help them establish digital payment systems similar to its successful Unified Payments Interface (UPI). The National Payments Corporation of India's international arm (NIPL) is leading these discussions and anticipates two such systems to be launched by early 2027, a report has said.

According to news agency Reuters, Ritesh Shukla, CEO of NIPL – overseas arm of the National Payments Corporation of India (NPCI), revealed that they are in talks with “several countries” and close to finalising an agreement with one.

NIPL in talks with 20 countries

Citing sources, the report says that NIPL has held talks with at least 20 countries in Africa and South America to help them develop a UPI-like system. Earlier this year, NIPL signed agreements with Peru and Namibia, with their systems expected to launch by late 2026 or early 2027, Shukla added

Rwanda is another country where “serious discussions” are reportedly underway. Besides aiding in building payment systems, NIPL is also focused on connecting UPI with real-time payment systems in other countries.

Several such links already exist, with more in the pipeline, the report noted, adding that to support its plans, NIPL intends to double its workforce by March 2025. It reportedly aims to deploy more staff overseas to complement its existing teams in Singapore and the Middle East.

NIPL is also tasked with linking UPI with other countries' real-time payment systems, such as Singapore's PayNow. UPI is available as a means of payments in countries such as France, Bhutan, Nepal, Sri Lanka, Singapore, the UAE and a few other countries.