Modi and Nahyan Launch UPI RuPay Card in Abu Dhabi

Abu Dhabi: Prime Minister Narendra Modi and UAE’s President Sheikh Mohamed bin Zayed Al Nahyan jointly inaugurated the UPI RuPay card service in Abu Dhabi on Tuesday. President Nahyan initiated the service by swiping a card embossed with his name, symbolizing the commencement of this financial technology milestone.

“We are entering a new era in FinTech with the launch of my UPI RuPay card and your Jaywan card,” remarked Modi during his meeting with President Nahyan, emphasizing the significance of this achievement.

The leaders observed the signing of multiple bilateral agreements, as outlined in a statement from the Ministry of External Affairs. One noteworthy agreement involves the interlinking of instant payment platforms – UPI in India and AANI in the UAE. This collaboration aims to facilitate seamless cross-border transactions between the two countries, building on the Memorandum of Understanding signed in July the previous year during Modi’s visit to Abu Dhabi.

Another crucial agreement pertains to the interlinking of domestic debit/credit cards between RuPay in India and JAYWAN in the UAE. This step is seen as pivotal in fostering cooperation within the financial sector and promoting the universal acceptance of RuPay across the UAE.

The preceding day, India had announced the exclusion of its UPI payment service in Mauritius and Sri Lanka. Notably, on February 2, India formally launched the UPI at the iconic Eiffel Tower in Paris, underscoring Prime Minister Modi’s vision of globalizing UPI.

The Unified Payments Interface (UPI) is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016.

As part of his two-day, two-nation trip to the Gulf region, Modi is scheduled to inaugurate the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha (BAPS) Mandir, the first Hindu temple in Abu Dhabi, on Wednesday. Following this event, he will proceed to Doha in Qatar.