After the immense success of the Unified Payment Interface (UPI) in the country, India is now working on a plan to help African countries develop their own UPI and conclude commercial partnerships between payment platforms, according to a person aware of the development.

African countries are also facing problems such as financial inclusion, supporting rural economies, fintech incubation, and transparency and these are the same factors India was facing before the launch of UPI in the country. As the country has successfully developed UPI, we are looking at partnerships to help these countries create their own UPI systems, said Ritesh Shukla, International CEO of the National Corporation of India (NPCI). He stated that the number of countries will be doubled in the next 12-18 months.

India is in talks with Namibia, Mozambique, and Kenya to help develop their own UPI. Users of UPI are increasing and now over 300 million people are using the platform to pay their bills digitally in the country. It facilitates 9 billion consumer transactions worth $180 billion per month, a report of News agency Reuters reveals.

Interestingly, penetration of UPI is visible in the market of India. People have started using it to make their very small payments as well. People are paying through this in shopping from vegetable vendors to malls.

As per the data released by NPCI, payments through the UPI beats credit card swipes. Transactions through UPI  in 2022-23 was 83.71 billion on the other hand it reduced to only 2.91 billion through credit cards.