India Uniform payment interface (UPI), which already controls half of the global real -time payments by volume, has expanded to Qatar and starts with Hamad International Airport’s duty -free stores. With this, Qatar has become Eighth country To adopt UPI, allow real time, cashless payments for Indian tourists and reduce dependence on foreign currency or international cards.
The enlargement is part of a collaboration between NPCI International Payments Ltd (NPL), Qatar National Bank (QNB) and Japanese payments Gateway Netstars. The partnership aims to increase digital payments For Indian tourists and Qatari companies, while expanding India’s Finance Technology footprint on a global scale.
NPCI International Payment’s Limited (NPL) is the international arm of National Payments Corporation of India (NPCI), which is responsible for enabling retail payment and decommissioning systems. NPL has collaborated with Qatar National Bank to allow acceptance of QR-Code-based UPI payments through POS-Sales (POS) terminals for merchants acquired by QNB and are operated by Netstar’s payment solution.
“We strive to improve the acceptance of UPI globally And create a truly interoperable global payment network. The partnership with QNB is a step towards this trip. It will help millions of Indian travelers to make seamless, secure digital transactions and reduce their dependence on cash. As UPI makes its mark, we are focused on running interoperability and making cross -border payment experiences problem -free for users, “Ritesh Shukla, CEO and CEO, NPCI International, said in a statement.
UPI launches in Qatar to increase retail, tourism
Indians represent the second largest group of international travelers to Qataraccording to the statement. This cooperation aims to facilitate Immediate digital payments across the country. The introduction of UPI in Qatar is also expected to improve global interoperability and expand its international reach. In addition, UPI’s expansion to Qatar is likely to increase Qatar’s retail and tourism industry by increasing transaction volumes for merchants supported by QNB. This, in turn, is expected to support business growth, while a comfortable payment experience for customers provides a comfortable payment experience.
“This Milestone Not Only Enhances The Convenience for Indian Travelers But Also Bings Significant Benefits to the Qatari Market by Promoting Cashless Transactions, Boosting Retail and Tourist Sectors, and Strength Inteoperability in the Payments Ecosystem. Important. Important. Important. Important. Important. Important. Important. Import Attracting More Customers and Providing Them with Seamless Digital Payment Options, “Said Yousef Mahmoud al-Neama, Group Chief Business Officer, QNB.
QNB Group is one of the leading financial organization in the Middle East and Africa, with presence in over 28 countries throughout Asia, Europeand Africa.
Net stars, Listed At Tokyo Stock Exchange, one of Japan’s best payment athletes with over 450,000 access points. In 2015, it was the first agent to introduce China’s QR Code payment service “WeChat Pay” to Japan, says the statement. “Since then, Netstars has extended Starpay, a payment solution service that provides stores with integrated implementation and handling of various Japanese and international QR code payments, as well as others Cashless payment services. ”
“We are honored to be part of this strategic partnership and milestone, which enables UPI for the first time in Qatar together with NPCI International, Qatar Airways Group and Qatar National Bank. This is in line with our mission to extend seamless and secure payments that are proud to be proud to contribute to this launch, as will be able to make this lan Seamless and secure payment experiences that are proud to contribute to this launch in Qatar, which will be Empower Local Local Merchants to expand seamless and secure payment experiences that are proud of. Travelers, ”said TSUYOSHI, CEO of Netstars.
India prioritizes Qatar -band
Qatar has been on the priority list for the federal government, with India expand their trade relations with Qatar by going beyond traditional energy exports and collaborating on new sectors such as Artificial intelligence (AI), semiconductorThe Quantum computerand Internet of Things (IoT).
In February this year, Qatar committed to invest $ 10 billion in India. Both nations set a goal to increase bilateral trade by 2030. India also aims to become an economy of $ 30-35 trillion in 2047, in line with its Viksit Bharat (Developed India) Vision.
In a statementIndia’s Trade and Industry Ministry announced that bilateral trade exceeded $ 15 billion in FY 2023-24, with investment flows also increased and placed Qatar among India’s three best GCC investors. GCC Investors is an investor in Gulf Cooperation Council (GCC) countries, which consist of Bahrain, Kuwait, Oman, Qatar, Saudi Arabiaand United Arab Emirates.
“We welcome energy products that come in from Qatar, but I think we are now looking at a new future where we will be moving from energy such as Bulwarken for our trade to AI, Said of Things, Quantum Computing and Semiconductors,” India’s trade minister, Piyush Goyal, SA at The The Things, Initial session in the India-Qatar Business Forum.
Goyal emphasized that India and Qatar are well positioned to supplement each other’s strengths and can be partners to drive innovation. When both nations go into a transformation transition, Goyal said This partnership will rest on the pillars in entrepreneurship, technology and sustainability.
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