NIPL Partners with Trinidad and Tobago to Develop UPI-Style Real-Time Payments System

NIPL Partners with Trinidad and Tobago to Develop UPI-Style Real-Time Payments System

NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India, has signed an agreement with the Ministry of Digital Transformation of Trinidad and Tobago to establish a real-time payments platform akin to India's Unified Payments Interface (UPI).

This collaboration aims to create a digital payment system for both person-to-person and person-to-merchant transactions, enhancing financial inclusion and modernizing the Caribbean nation’s financial ecosystem. Drawing on India's expertise with UPI, the partnership is expected to facilitate access to essential financial services and reduce cash dependency.

Ritesh Shukla, CEO of NPCI International, emphasized the transformative potential of real-time payments for economies, expressing enthusiasm for the collaboration with Trinidad and Tobago's Ministry of Digital Transformation and the Central Bank.

NIPL has recently been expanding its footprint globally, having entered similar agreements in countries like Peru and Namibia to implement UPI-inspired payment systems. As a wholly-owned subsidiary of NPCI, NIPL is dedicated to deploying India’s innovative payment solutions internationally.