How UPI Is Expanding Its Global Footprint And Securing Digital Payments
What's happening
India's Unified Payments Interface (UPI) is widening its international reach as 12 countries have adopted the system and UPI transactions have surged over the past five years. Bilateral talks are advancing to link UPI with Spain's Bizum, with India and Spain agreeing to speed up discussions on a UPI-Bizum digital payments link. Domestically, the UPI MDR (merchant discount rate) that was removed may return for large merchants, a move that would affect digital payments economics.
Why it's trending
Multiple developments (rapid transaction growth, international adoption, and policy moves on MDR) are converging to push UPI into global partnerships and renewed merchant-fee debate.
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If you do business between India and Spain, expect cross-border UPI-Bizum payments sooner rather than later, and cheaper real-time rails for customers and merchants alike may be the result.
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Original sources5
- India, Spain agree to advance discussions on UPI-Bizum digital payments linkThe TribuneJul 20
- How UPI Is Expanding Its Global Footprint And Securing Digital PaymentsRediffJul 20
- UPI transactions surge over 5 years; 12 countries adopt India’s digital payment systemThe Indian ExpressJul 20
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