Payment System
Prime Minister Narendra Modi highlighted that India is working on linking the UPI of India with the UPI
of New Zealand as an initiative to facilitate cross-border transactions, besides making them safe and
convenient for both the citizens as well as companies of either of the two nations.
The statement came following the bilateral discussion between Prime Minister Narendra Modi and
Prime Minister Christopher Luxon of New Zealand, during the visit of PM Modi to New Zealand where
issues relating to cooperation in different fields, including trade, technology, digital innovations,
education, defence, and cultural ties were discussed.
Highlighting the significance of digital economy in India, PM Modi said that linking UPI of India with the
payment mechanism of New Zealand would help the Indians visiting New Zealand, studying in the
country, and Indians settled in the nation.
UPI was created by NPCI and has revolutionized the world of India’s digital payments system through
instant transfer of funds from one bank account to another using mobile phones. India has in recent
times been engaging in partnerships with other nations in order to increase the global presence of the
platform which will enable Indian tourists as well as businessmen to make payments digitally across
borders.
Linking UPI to the country of New Zealand is part of the efforts that the two nations have been making
towards improving collaboration in financial technology and digital public infrastructure.
Aside from talks regarding digital payments, the leaders also went over how bilateral ties had
developed and how deeper cooperation could be fostered in such areas as clean energy, agriculture,
education, and emerging technologies. They affirmed their common goal of increasing economic
interactions and bringing India and New Zealand closer together.
This latest development is yet another step in India’s pursuit of making UPI a global platform for
payments. The fact that other nations are adopting the platform means that India’s digital payment
system keeps gaining acceptance across the world.
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