RBI wants to make unified Payment Interface (UPI) and RuPay truly global, says RBI governor

Reserve Bank of India’s (RBI) governor Shaktikanta Das Wednesday said that it wants to make Unified Payment Interface (UPI) and RuPay ‘truly global’ and strengthen cross-border payment systems.

Speaking at Global Fintech Fest in Mumbai, Das said RBI is focusing on making the UPI and RuPay truly global based on encouraging response received from several jurisdictions.

He said that RBI’s top agenda is developing ‘UPI-like infrastructure in foreign jurisdictions, facilitating QR code-based payment acceptance through UPI apps at international merchant locations, and interlinking UPI with Fast Payment Systems (FPS) of other countries for cross-border remittances.