India is engaging in discussions with countries in Africa, such as Namibia and Rwanda, as well as nations in South America, to assist them in implementing digital payment systems modeled on its Unified Payments Interface (UPI).
The National Payments Corporation of India (NPCI), through its international division, NPCI International Payments Ltd (NIPL), plans to launch UPI in these regions by early 2027. Ritesh Shukla, CEO of NIPL, confirmed that talks with several countries are currently underway to advance this initiative
The international branch of the National Payments Corporation of India (NPCI), known as NPCI International Payments Ltd (NIPL), is actively engaged in talks with multiple nations. Ritesh Shukla, CEO of NIPL, confirmed that they are close to finalizing a formal agreement with one of the countries.
NPCI, operating under the supervision of India’s central bank, is responsible for managing retail payment systems in India and developed UPI, the country’s most popular digital payment platform. In August alone, UPI handled nearly 15 billion transactions, reflecting a 41% year-on-year growth.
NIPL was created to promote Indian payment solutions globally, and the organization is currently in discussions with over 20 countries from Africa and South America to establish payment systems similar to UPI, according to an insider.
Earlier this year, NIPL struck agreements with the central banks of Peru and Namibia to help design real-time payment platforms based on the UPI model. These platforms are expected to be operational by late 2026 or early 2027.
Among the countries showing strong interest, Rwanda is reported to be the most advanced in its discussions, according to a second source familiar with the negotiations. However, Shukla did not specify whether Rwanda is one of the countries involved.
In addition to developing new payment systems, NIPL is focusing on linking UPI with real-time payment networks in other countries, such as Singapore’s PayNow. Seven such integrations are currently active, with more planned in the near future, though details have not been disclosed.
NIPL plans to double its workforce to 120 employees by March 2025, with an increased presence abroad to support its international expansion. The current team of executives is primarily based in Singapore and the Middle East.