NPCI’s International Arm Partners QNB To Roll Out UPI In Qatar

By Inc42 Media

SUMMARY

NPCI International Payments Limited (NIPL) has partnered with Qatar National Bank (QNB) to enable UPI payments in Qatar.

Indian tourists will be able to make QR code-based UPI payments at various locations in Qatar, including retail stores and tourist attractions.

This partnership is part of NPCI’s broader strategy to expand UPI globally, with recent collaborations in UAE, Singapore, and African nations.

The National Payments Corporation of India’s (NPCI) international arm, NPCI International Payments Limited (NIPL), has forayed into Qatar after partnering with Qatar National Bank (QNB).

The move will enable Indian tourists to make QR code-based UPI payments across QNB’s merchant network in Qatar. They will now be able to use their preferred payment method at retail stores, tourist attractions, leisure sites, duty-free shops and hotels, NPCI said in a statement.

“We believe that enabling UPI acceptance in Qatar will offer substantial benefits to the large number of Indians visiting the country, simplifying their transactions, and ensuring a hassle-free travel experience abroad,” said Anubhav Sharma, deputy chief – partnerships and business development, NPCI International.

This partnership will not only benefit Indian tourists but also Qatari businesses to offer a faster and more convenient payment and checkout process, the statement added.

Adel Ali Al-Malki, senior executive vice president, QNB Group Retail Banking, said, “With this new digital payment solution acceptance, we are changing the way transactions are conducted,”

This move aligns with NIPL’s mission to expand the reach of India’s digital payment solutions globally. The partnership with QNB is expected to significantly boost the adoption of UPI in the Middle East, further cementing India’s position as a leader in financial technology.

The Qatar partnership is the latest in a series of international collaborations for UPI. In recent months, NPCI has been actively working to take UPI global. 

In July, NPCI entered UAE after partnering with Network International to facilitate UPI payments. This move allows Indian tourists to use UPI at various outlets in the UAE, including popular malls, enhancing their shopping and travel experience.

In another significant development, the Reserve Bank of India, in collaboration with central banks from Malaysia, Philippines, Singapore, and Thailand, launched ‘Project Nexus’ in July 2024. This initiative aims to link UPI with these countries’ Fast Payment Systems, paving the way for seamless cross-border transactions.

Also, in May, India and Ghana agreed to operationalize UPI on Ghana’s interbank payment system within six months. Additionally, NIPL signed an agreement with the Bank of Namibia in the same month to develop a UPI-like digital payments system for the African nation.

Source: Inc42 Media