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India's fintech services—UPI and RuPay—will be officially launched in Sri Lanka and Mauritius

UPI services to be officially launched in Sri Lanka and Mauritius on Feb 12

India's fintech services&mdash;UPI and RuPay&mdash;will be officially launched in Sri Lanka and Mauritius

India's Unified Payment Interface or UPI services will be launched in Sri Lanka and Mauritius. Besides that, &nbsp;RuPay card services will be launched in Mauritius. &nbsp;Prime Minister Narendra Modi will witness the launch via video conferencing on February 12.
The launch will enable the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India, the Indian High Commission said.
&ldquo;India has emerged as a leader in Fintech innovation and Digital Public Infrastructure. Prime Minister has placed a strong emphasis on sharing our development experiences and innovation with partner countries. Given India&rsquo;s robust cultural and people-to-people linkages with Sri Lanka and Mauritius, the launch will benefit a wide cross-section of people through a faster and seamless digital transaction experience and enhance digital connectivity between the countries," the Indian High Commission said in a statement.
Earlier this month, India formally launched UPI at the iconic Eiffel Tower in Paris, terming it as taking global Modi's vision of the Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016.
Modi had earlier this month said: "Great to see this- it marks a significant step towards taking UPI global. This is a wonderful example of encouraging digital payments and fostering stronger ties." UPI is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood, according to NPCI.
Also read | <a href="https://www.editorji.com/business-news/startups/blackrock-slashes-byju-s-valuation-by-95-amidst-financial-crisis-1705040009696">BlackRock slashes Byju's valuation by 95% amidst financial crisis</a>

Unified Payments Interface (UPI) saw yet another record being set in April as it recorded 558 crore transactions, its its highest ever, amounting to Rs 9.83 lakh crore.

UPI hits new record, 20 crore transactions this year

Unified Payments Interface (UPI) saw yet another record being set in April as it recorded 558 crore transactions, its its highest ever, amounting to Rs 9.83 lakh crore. In comparison last year in April 2021, UPI had processed 2.64 crore transactions worth Rs 4.93 lakh crore.


UPI hits new record, volume and value double

<ul>
<li>UPI&nbsp;sets new record with 558 crore&nbsp;transactions&nbsp;</li>
<li>UPI&nbsp;April transaction volume soars to Rs 9.8 lakh crore</li>
<li>UPI&nbsp;has seen over 20 crore&nbsp;transaction in 2022</li>
<li>ACI: India leads in real-time payment transactions</li>
<li>UPI&nbsp;dominated by two players&nbsp;PhonePe and Google Pay Thumbnail - UPI&nbsp;SEES RECORD RISE</li>
</ul>

UPI recorded 558 crore transactions in April 2022 a new record for the payment platform

Unified Payments Interface (UPI) saw yet another record being set in April as it recorded 558 crore&nbsp;transactions, its highest ever, amounting to Rs 9.83 lakh crore. In comparison last year in April 2021,&nbsp;UPI&nbsp;had processed 2.64 crore transactions worth Rs 4.93 lakh&nbsp;crore. It has been a steady climb up for the payment interface, now recording 20 crore&nbsp;transactions for this year alone. As per a&nbsp;ACI Worldwide's&nbsp;report, India led the world in real-time payment transactions in 2021.
Also read/watch|&nbsp;<a title="Get ready to pay a lot more for your flights, here is why&nbsp;" href="https://www.editorji.com/business-news/get-ready-to-pay-a-lot-more-for-your-flights-here-is-why-1651468829374">Get ready to pay a lot more for your flights, here is why&nbsp;</a> The UPI payments space in the country is currently dominated by two players &ndash; PhonePe and Google Pay. Together, the two command a little over 84% of the UPI market in terms of transaction volume&nbsp;

unified payments interface

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