NPCI International partners with PPRO to facilitate global e-commerce payments through UPI

NPCI International Payments, A wholly owned subsidiary of National Payments Corporation of India (NPCI), has partnered with digital payments infrastructure provider PPRO to Facilitate global e-commerce payments through UPI.

The agreement aims to expand RuPay card acceptance and UPI acceptance across global clients such as payment service providers (PSPs) and global business acquisition firms, NPCI said in a statement.

This will drive NPCI International’s expansion into overseas markets and will add India to PPRO’s Domestic Payment Method (LPM) coverage map. It will also allow public service providers, banks, payment gateways and companies with payment platforms to expand globally giving international e-commerce merchants access to Indian consumers.

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Consumers can shop online across the world and make cross-border purchases in rupees, safely using UPI, the statement said.

“International payment service providers and their merchants can now easily tap into the e-commerce market which is expected to reach an estimated $111 billion in the next year and nearly double to $200 billion by 2026. By integrating UPI into the digital payments infrastructure For PPRO through a single connection “We have removed all the operational complexities for our partners to sell across borders into India at scale,” said Simon Black, CEO of PPRO.

The UPI network processes 60 percent of all domestic payments and 40 percent of instant payments processed globally. It has more than 32.5 crore active users, with 390 banks and 100 interoperable third party applications on the network. In March 2023, UPI processed more than Rs 870 crore, which is the highest since its launch.