NPCI Plans Expansion of UPI-Based Digital Payment Systems to Africa and South America

NPCI Plans Expansion of UPI-Based Digital Payment Systems to Africa and South America

India is actively engaging with several countries in Africa and South America to assist them in developing digital payment infrastructures modeled on its Unified Payments Interface (UPI), with two international launches expected by 2027, according to a senior official from the National Payments Corporation of India (NPCI).

Ritesh Shukla, CEO of NPCI International Payments Ltd (NIPL), the global arm of NPCI, revealed that discussions with numerous countries are progressing, with a deal nearing finalization with one nation. NIPL’s goal is to promote India’s digital payment ecosystem globally, using UPI’s success as a foundation. UPI, currently the most widely used digital payment platform in India, saw a 41% rise in transactions in August, reaching nearly 15 billion.

NIPL has already initiated discussions with over 20 nations across Africa and South America to establish UPI-inspired systems. Earlier in the year, agreements were signed with the central banks of Peru and Namibia to develop real-time digital payment frameworks, with launches anticipated by late 2026 or early 2027.

While Shukla declined to specify the number of ongoing negotiations, sources familiar with the talks mentioned Rwanda as the only country where serious discussions are underway. The goal is to replicate the UPI model and link it to other real-time payment networks, such as Singapore's PayNow. Currently, there are seven such connections in place, with plans to expand this network further.

To support these efforts, NIPL aims to double its workforce to 120 by March 2025, with a focus on increasing its presence in overseas markets. The team already has representation in Singapore and the Middle East, with further expansions planned to boost global operations.