The indigenously developed real-time payments solution Unified Payments Interface (popularly known as UPI) is all set to foray into the UK market starting with QR code-based transactions. According to a PTI report, the NPCI International Payments Ltd (NIPL) has forged a partnership with payments solutions provider PayXpert to internationalise the acceptance of its payment solutions in the UK.
NIPL is the wholly-owned subsidiary of National Payments Corporation of India (NPCI), which developed the UPI and the RuPay card scheme.
"This collaboration will make the Indian payment solutions available in the UK on all PayXpert's android point-of-sale (POS) devices for in-store payments, starting with UPI-based QR code payments and later integrating the possibility for RuPay card payments," NPCI said in a release on Thursday.
David Armstrong, Managing Director, PayXpert in the UK, said the foray of UPI and RuPay will open up a new field of opportunity for the company in the UK. "It will further strengthen the capability of company's solution for UK merchants," he said.
Anubhav Sharma, Head International Business - Partnership, Business Development & Marketing, NPCI International, said, "With this development, Indians travelling to the UK will be able to enjoy the benefits of UPI's payments platform through PayXpert's POS devices. This collaboration is an important milestone for us and we plan on augmenting the facility of RuPay card payments in the near future."
NPCI, as per the PTI report, said, over 5 lakh Indians, including over 1 lakh students, travel to the UK every year. In July 2021, Bhutan became the first country to adopt Unified Payment Interface standards for NPCI's QR deployment, and the only country to accept RuPay cards.
Earlier in February this year, the UPI forayed into another neighbouring country, Nepal, in a move aimed at bolstering real-time digital transactions.