NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of National Payments Corporation of India (NPCI), the organisation behind the world’s largest real-time payment solution, the Unified Payments Interface (UPI) and the RuPay card Scheme, has today signed an MoU confirming a partnership with the payments solutions provider PayXpert to internationalise the acceptance of its payment solutions in the UK.
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.
UPI is amongst the most successful real-time payments (RTP) systems globally, providing – simplicity, safety, and security in person-to-person (P2P) and person-to merchant (P2M) transactions in India. UPI has achieved a volume of US$ 940Bn (39Bn transactions) in 2021, which is equivalent to 31% of India’s GDP. RuPay is the first-of-its-kind Global Card payment network from India with over 700 million cards issued to date.
Every year over half-a-million Indians travel to the UK1 including over one hundred thousand students. Over the next few years, this number is expected to grow exponentially. This partnership will provide Indian travellers with a familiar and convenient way to make payments in the U. The UPI and RuPay payment options are set to benefit both consumers and retailers across the UK while providing a welcome boost to commerce across the retail, hospitality, and tourism sectors.
Commenting on the partnership, David Armstrong, Managing Director, PayXpert in the UK said, “The UPI and the RuPay payment schemes are great names to add to PayXpert’s portfolio of international payment options available on our POS devices. It will open up a new field of opportunity for us in the UK and further strengthen the capability of our solution for UK merchants.”
Adding to this Anubhav Sharma, Head International Business – Partnership, Business Development & Marketing, NPCI International said, “We are excited to announce that we have partnered with PayXpert as our very first acquirer for UPI in the UK. 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.”
