Network International Holdings a leading enabler of digital payment solutions and services, has signed an MOU with NPCI International Payments Ltd (NIPL), to clarify their cooperation on the acceptance of NIPL's mobile-based real-time payment system, Unified Payments Interface (UPI), in the UAE. Owing to the recent relaxation of travel prohibitions between India and the UAE, the stated collaboration will benefit Indian visitors to the UAE by allowing them to make payments quickly and easily through UPI-based mobile applications. Network International stated earlier this year that it will embrace India's RuPay payment method, expanding the breadth of accepted payment systems and business opportunities for merchants. in the UAE.
In an official announcement made on 18th November 2021, NIPL has said that "The proposed rollout of UPI mobile payment solutions on Network International's merchant network in the UAE is expected to commence in the first quarter of 2022 across the company's key retail merchant partner outlets, including those in sectors such as jewellery, supermarkets, and duty-free retailers."
This initiative is part of the Network's ongoing effort to increase digital payment acceptance in the UAE. With collaboration with key international payment schemes and partners, the Network has made substantial contributions to the growth of the national payment sector and assistance for UAE merchants since its establishment.
Nandan Mer, Group Chief Executive Officer, Network International, said: "The UAE is among the most favoured destinations for Indian visitors and the availability of a trusted and familiar mobile payment option such as UPI will enable visitors to pay for their purchases in the UAE safely and with ease. With the rising propensity for digital payments as a preferred payment method across the globe, as a market leader in end-to-end payment solutions, we are delighted to engage in discussions on bringing UPI mobile payment solutions for our UAE merchant network." He further added that "This MOU is a testament to Network's continued commitment to create new opportunities for our merchants by enhancing the way their consumers pay, strengthening the UAE's payment ecosystem by boosting acceptance of new payment methods."
We are delighted to inform you that Network International, the leading enabler of digital commerce and NPCI International have signed MoU for intended collaboration on acceptance of UPI real-time mobile payment solution in UAE.— NPCI (@NPCI_NPCI) November 19, 2021
Click here to know more : https://t.co/ToL7LVTEOv pic.twitter.com/zegFSbNcKV
Mr. Ritesh Shukla, CEO of NIPL, commented "Our planned collaboration with Network International would be a formidable step towards achieving our vision of taking our robust and popular payments solutions to global markets. We are confident that our proven product capabilities, combined with the vast merchant network of Network International, will enable UPI QR-based payment acceptance and scale-up in the UAE. We look forward to working with Network International to empower Indian travellers and the large Indian community in the UAE."