India launches UPI payment system in Qatari supermarket
_vb_19.jpeg)
Doha (PTI): India expanded the reach of the Unified Payments Interface (UPI) on Monday by launching the facility at Lulu Group's stores in Qatar, following its rollout at duty-free outlets in Hamad International Airport here last month.
Launching the facility at a Lulu store, Commerce and Industry Minister Piyush Goyal said it will help facilitate smoother and more cost-effective movement of capital between the two countries.
Last month, NPCI International Payments Ltd (NIPL), in partnership with Qatar National Bank (QNB), introduced UPI at point-of-sale terminals across Qatar for merchants acquired by QNB.
The rollout is part of a collaboration between NPCI International Payments Ltd (NIPL), Qatar National Bank (QNB), and Japanese payments gateway NETSTARS.
He also encouraged other banks and institutions in Qatar to adopt UPI.
"The launch of UPI and UPI transactions is not just a digital payment solution, but has the potential to revolutionise trade between Qatar and India. It's an opportunity to expand our trust between the two nations because as we seamlessly integrate the payment systems of Qatar and India, our people will be able to trade more, trade smarter at lower cost," he said here.
He added that the movement of money and capital will be faster, almost on a real-time basis, with a "very-very low" cost.
"Expanded trade will further be strengthened with the adoption of UPI ... I thank QNB for taking up UPI as part of their payment systems," he said, adding the official launch of UPI today will be a milestone in this journey in the years ahead.
He also said that 830,000 Indians who live here will benefit from this launch as their remittances will become faster and at a lower cost.
This makes Qatar the eighth country to accept UPI, facilitating real-time, cashless payments for Indians and reducing dependency on foreign currency or international cards.
By enabling seamless transactions, UPI supports both Indian travellers and local Qatari businesses, promoting digital payment adoption and strengthening India's international financial footprint while enhancing convenience and security for tourists in high-traffic commercial zones.
The UPI, Goyal said, was launched nine years ago, and it is a big success story in India.
"85 per cent of Indian digital payments go through UPI and nearly 50 per cent of global digital payments are now made by UPI," he said, adding that 640 million transactions happen on average every day.
He added that it was wonderful to see the QNB becoming the bridge between NPCI, who has developed the UPI platform, and Lulu Group, who is offering to all its customers the facility of digital payment through UPI.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Man sets fire to gas cylinder on truck in Kerala's Kottayam, held
Kottayam(Kerala) (PTI): A 33-year-old man climbed onto a parked truck carrying cooking gas cylinders and set fire to one of them near Thalayolaparambu in the small hours of Saturday, police said.
The incident occurred around 12.30 am, they said.
The fire and rescue personnel soon arrived at the scene and extinguished the fire, averting a major disaster.
According to police, the man is suspected to be under mental distress as he claimed that he was walking from Ernakulam to his home in Marangattupilly here when he saw the truck on the roadside.
An FIR under sections 329(3)(criminal trespass),324(2)(mischief),326(f)(mischief by injury, inundation, fire or explosive substance) of the Bharatiya Nyaya Sanhita was lodged against him.
Police said that the man was formally arrested, but will be released on station bail as the offences he is accused of are bailable.
"His family is here at the station and he will be released to them," the officer said.
In the FIR, police have said that the man opened the seal of one of the gas cylinders and set fire to it with the knowledge that his act was dangerous to those living in the area.
According to the company transporting the cooking gas cylinders, it suffered a loss of Rs 2,300 in the incident.
