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Launch Of UPI A Milestone In Existing Strong Bilateral Relations: Mauritius Envoy Haymandoyal Dillum

12:28 PM Feb 13, 2024 IST | 8PM News Desk
launch of upi a milestone in existing strong bilateral relations  mauritius envoy haymandoyal dillum
Launch Of UPI A Milestone In Existing Strong Bilateral Relations: Mauritius Envoy Haymandoyal Dillum

New Delhi [India] : High Commissioner of Mauritius in India, Haymandoyal Dillum, on Tuesday called the launch of UPI services in his country a milestone in the existing strong bilateral relationship.

Prime Minister Narendra Modi, and Mauritius Prime Minister Pravind Kumar Jugnauth, together on Monday launched the virtual launch of the RuPay and Unified Payments Interface (UPI) link between Mauritius and India.

"On Monday, Prime Minister Modi and Prime Minister Pravind launched the virtual UPI as well as a Rupay and I take it as another milestone in the existing strong bilateral relations," Dillum told.

Envoy also revealed that during the G20 meeting in New Delhi, both Prime Ministers discussed about the UPI interface.

The high commissioner expressed delight that within a short period discussions between RBI and Bank of Mauritius took place.

"It is Prime Minister Modi's policy on neighbourhood and SAGAR, we are glad that it has materialised today. We all know there are strong cultural relations between two countries but now it has given a new dimension to our relationship with digital connectivity. I hope that both nationals Mauritius, as well as India, will benefit greatly from this interface and will facilitate payment," he added.

The Mauritius High Commissioner mentioned that his country is a tourist destination and has put a target that around 100,000 Indians should visit Mauritius.

Highlighting further Dillium said, "With the inauguration of Ayodhya Ram temple there is a big rush for Mauritian nationals to proceed to India. Sri Lanka has also joined this interface, so I think cooperation with these countries of the Indian Ocean will benefit a lot from this interface."

Mauritius Prime Minister Jugnauth said during the video conference,"The Rupay card co-branded with our national payment switch, the MoCAS, will be designated as the domestic card in Mauritius."

The extension of RuPay card services in Mauritius will enable Mauritian banks to issue cards based on the RuPay mechanism in Mauritius and facilitate usage of RuPay Card for settlements both in India and Mauritius.

India, which has emerged as a leader in fintech innovation and Digital Public Infrastructure placed a strong emphasis on sharing its development experiences and innovation with partner countries.

UPI is India's mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly, using a Virtual Payment Address (VPA) created by the customer.

UPI payment system has become hugely popular for retail digital payments in India, and its adoption is increasing at a rapid pace.

A key emphasis of the Indian government has been on ensuring that the benefits of UPI are not limited to India only, but other countries, too, benefit from it.  So far, Sri Lanka, Mauritius, France, UAE, and Singapore have partnered with India on emerging fintech and payment solutions.

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