What To Know
- It has also anticipated that the Indian travelers or residents in the UAE can make instant payments with the help of UPI which is a mobile phone payment system that has a connectivity with the Indian bank account.
- The authorities of the UAE predict that the implementation of the UPI Payments will increase consumption of the services in the sphere of traveling, tourism and retailing.
- The fully digital process includes just that – a quick scan of the code, input of the amount and the final entering of the UPI pin.
It has also anticipated that the Indian travelers or residents in the UAE can make instant payments with the help of UPI which is a mobile phone payment system that has a connectivity with the Indian bank account. So, this step obviously endeavors to more conducive, uninterrupted, and free from money – linked transactions.
The penetration of the communication systems such as UPI, for example, a digital payment system in India with more than 400 million users, is outstanding; last year, Indians arranged $2. 2 trillion worth of transactions via UPI. Introduced by the National Payments Corporation of India (NPCI), this is now being taken abroad to hot spots Indian travellers frequently access, including the UAE.
India is the most significant source of the tourist traffic to the UAE with over 2. 2 million visitation, while having +3. 5 MM of Indians living currently in the UAE. The authorities of the UAE predict that the implementation of the UPI Payments will increase consumption of the services in the sphere of traveling, tourism and retailing.
From this month, Indians visiting or living in the Emirates will be able to use UPI for payments at 60,000 plus stores. They can just pay through their Indian mobile by scanning the QR code without having to convert Rupees from the Indian bank. This do away with the need to have cash on yourself or have to change from one currency to the dirham.
Thus, NPCI partners with Network International and Mashreq Bank to introduce UPI in the UAE. This service is going to be available in hotels, stores, restaurants, tourist places and in coming months more places are going to adopt UPI.
NRIs living in India can use the UPI Apps with their UAE mobile numbers for linking into their NRO and NRE accounts. The fully digital process includes just that – a quick scan of the code, input of the amount and the final entering of the UPI pin.
This aimed at increasing the possibilities of financial linkages more specifically referring to easy payment methods to improve travel experiences of Indian travelers and non-resident Indians .
