New Delhi: The German Embassy here has lauded India’s digital infrastructure stating it as one of the country’s success stories after Germany’s federal minister for digital and transport Volker Wissing praised the UPI system.
On August 20, Wissing used Unified Payments Interface (UPI) to make a payment at a vegetable shop in New Delhi.
Following this, the German embassy, taking to X (formerly Twitter), wrote, “One of India’s success stories is digital infrastructure. UPI enables everybody to make transactions in seconds. Millions of Indians use it. Federal Minister for Digital and Transport Wissing was able to experience the simplicity of UPI payments first hand and is very fascinated!”
The NPCI (National Payments Corporation of India) was launched in 2016, the UPI now clocks over 9 billion transactions a month in terms of volume come 2023. UPI integrates multiple bank accounts into a single mobile application into a single mobile application.
So far, Sri Lanka, France, the UAE and Singapore had partnered with the Indian government on emerging fintech and payment solutions.
Earlier in July this year, Prime Minister Narendra Modi announced that India and France agreed to use the UPI payment mechanism. Before this, a similar agreement was signed between UPI and Singapore’s PayNow, enabling citizens in both countries to carry out cross-border transactions.
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