Indian tourists visiting the UAE will soon be able to make payments across the country using India’s Unified Payments Interface (UPI). The instant payment system will be accepted at over 60,000 merchants across various sectors, including retail, hospitality, transport, and supermarkets.
Wide Acceptance of UPI
UPI acceptance will cover a broad range of establishments, including retail stores, dining outlets, and major tourist and leisure attractions like Dubai Mall and Mall of the Emirates. This initiative is a result of a partnership between digital commerce firm Network International and NPCI International Payments Ltd. (NIPL).
Streamlined Payment Experience
UPI, India’s largest instant payments system, boasts over 350 million active users and processed 14.04 billion transactions in May 2024 alone. By enabling UPI acceptance through its point-of-sale (POS) terminals, Network International will provide a QR-based, secure method for facilitating cross-border payments. This allows Indian tourists and NRIs with Indian bank accounts to use UPI for payments across Network’s 200,000 terminals in the UAE.
Earlier this year, a collaboration with Dubai-based Mashreq Bank enabled Indian citizens to use the UPI-powered PhonePe app across Mashreq’s NEOPAY Terminals in retail stores, dining outlets, and tourist and leisure attractions.
Strategic Collaboration
At an event in Dubai, Satish Kumar Sivan, Consul General of India to the UAE, and senior representatives from both companies made the announcement. This partnership aligns with the UAE’s vision to strengthen its position as a global hub for tourism and commerce.
Tourism and Economic Impact
The number of Indian tourists traveling to the Gulf Cooperation Council (GCC) countries is projected to reach 9.8 million in 2024, with the UAE expecting 5.29 million visitors from India.
Nandan Mer, Group CEO of Network, emphasized the importance of enabling customers to pay in their preferred method, stating that it brings the ecosystem closer to achieving a “digital UAE.” Jamal Al Nassai from Network called the partnership a “milestone” for their extensive network, which stands to benefit significantly from the new payment method.
Ritesh Shukla, CEO of NPCI International, remarked, “Our partnership with Network International will deepen UPI’s presence in the UAE. By growing UPI payment acceptance across merchants in the UAE, we are not only providing Indian travelers with a seamless and familiar payment experience but also promoting the use of innovative digital payment solutions internationally.”
