Reserve Bank of India (RBI) governor Shaktikanta Das has said since the activation of the linkages between UPI and Singaporean counterpart Paynow, many countries have expressed keen interest in entering into such collaboration on the payments front and expressed the hope to sign up at least half a dozen countries soon.

Since the launch of the UPIPaynear collaboration 10 days ago, 120 inbound transactions from and 22 outbound transactions to Singapore have been processed, while in-bound UPI transactions have seen 30 users from 10 countries being on-boarded with 77 merchant payments made,

governor Shaktikanta Das told reporters here announcing the RBI's Digital Payments Awareness Week. "We have taken steps for the internationalisation of our payment systems and cross-border linkage of fast payment systems of India and Singapore through the UPI-Paynow linkages from February 21.

This linkage is in addition to the QR code-based and UPI-enabled P2M payments already happening in Bhutan, Singapore and the UAE," Das said. The governor expressed the hope to link the UPI platform with many more countries as many have expressed keen interest in doing so.

Recently, the RBI also enabled visitors from G20 counties to be on-boarded to the UPI platform without having a bank account in the country. Through this initiative, the G20 delegates had a first-hand experience of making merchant payments seamlessly through the UPI, during their stay, he said.

Rupee trade policy gains momentum

Paytm offers lightning fast UPI payments that never fail in peak hours

Paytm's ‘Cancel Protect’ ensures full refund against flight ticket cancellation