https://sputniknews.in/20231010/india-to-advise-uae-on-payment-system-technology-development--4711800.html
India to Advise UAE on Payment System Technology Development
India to Advise UAE on Payment System Technology Development
Sputnik India
India will advise the United Arab Emirates (UAE) on the development of a card payment system
2023-10-10T12:27+0530
2023-10-10T12:27+0530
2023-10-10T12:27+0530
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india
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digital financial transactions
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India will advise the United Arab Emirates (UAE) on the development of a card payment system based on the RuPay initiative.The partnership deal signed in Abu Dhabi between India and UAE has been instrumental in achieving their objective. The agreement outlines cooperation between the National Payments Corporation of India (NPCI) and a subsidiary of the UAE Central Bank to establish a nationwide card system. The two groups will collaborate to create, execute, and manage a system comparable to India's RuPay card in the UAE. The partnership is additionally intending to expand compensation choices, decrease exchange expenses, and improve the UAE's overall competitiveness in the industry, according to Indian authorities. RuPay is a payment system created in India. Over 750 million cards are currently in use. The system was made possible by India's creation of public digital infrastructure, which includes layers for identification, payments, and data exchange.
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india, uae, uae new payment system, economics, payment mechanisms, digital card payment system in uae, india-uae digital cooperation, economic cooperation between india and uae, rupay payment system in uae, national payments corporation of india, uae central bank, digital financial transactions
india, uae, uae new payment system, economics, payment mechanisms, digital card payment system in uae, india-uae digital cooperation, economic cooperation between india and uae, rupay payment system in uae, national payments corporation of india, uae central bank, digital financial transactions
India to Advise UAE on Payment System Technology Development
The India-UAE agreement is a crucial stride toward enhancing digital financial transactions and accessibility in the Arab nation.
India will advise the United Arab Emirates (UAE) on the development of a card payment system based on the RuPay initiative.
The partnership deal signed in Abu Dhabi between India and UAE has been instrumental in achieving their objective.
The agreement outlines cooperation between the
National Payments Corporation of India (NPCI) and a subsidiary of the
UAE Central Bank to establish a
nationwide card system.
The two groups will collaborate to create, execute, and manage a system comparable to India's
RuPay card in the UAE. The partnership is additionally intending to expand compensation choices, decrease exchange expenses, and improve the UAE's overall competitiveness in the industry, according to
Indian authorities.
RuPay is a payment system created in India. Over 750 million cards are currently in use. The system was made possible by India's creation of public digital infrastructure, which includes layers for identification, payments, and data exchange.
