MoU signed to launch India’s Rupay debit cards in Oman

The National Payments Corporation of India (NPCI) and the Central Financial Institution of Oman signed an MoU to launch the Rupay debit card in Oman paving the best way for a brand new period of monetary connectivity.

The signing of the MoU was witnessed by the Minister of State for External Affairs V. Muraleedharan and Tahir Al Amri, President of the Central Financial Institution of Oman. Muraleedharan arrived in Muscat, the capital city Oman for two days to deepen the ties between both nations.

Terming the MoU as a brand new milestone in bilateral relations, Muraleedharan tweeted, “blissful to satisfy with H.E. Tahir Al Amri, Govt President, Central Financial institution of Oman & witness signing of the historic MOU between CBO and NPCI to launch the Rupay debit card in Oman, paving the best way for a brand new period of monetary connectivity.”

The UPI-powered BHIM App will also be used by Bhutan. NPCI’s global subsidiary signed up Bhutan’s Central Bank to enable the usage of the UPI. Bhutan will be the first country to adopt UPI standards for its QR deployment. UPI acceptance has also gone live with the UAE’s Mashreq Bank which deploys QR codes in UAE. Indian travelers and tourists in the UAE can now make payments through BHIM UPI across 10,000 shops and merchants via NEOPAY which is a payment subsidiary of Mashreq Bank.

In August, NPCI International Payments Limited (NIPL) signed an MoU with the UK’s payments solutions provider PayXpert to make the UPI-based QR code solutions available in the UK on all PayXpert’s Android POS devices for in-store payments. By the end of this year, five Southeast Asian countries- Malaysia, Singapore, Indonesia, Thailand, and the Philippines will sign a contract to combine their respective QR code payment systems. This will pave the way for merchant payments via QR codes throughout the region.

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