In a significant step for Indian travellers, NPCI International Payments Limited (NIPL) in partnership with Qatar National Bank has enabled the acceptance of QR code-based Unified Payments Interface (UPI) across Qatar.
Powered by NETSTARS’ payment solution the facility will be available at QNB-acquired merchants. Qatar Duty free has become the first to go live, paving the way for seamless UPI transactions at leading tourist attractions and retail outlets across the country.
Indians are the second largest group of international visitors to Qatar. This partnership will help them to make real-time transactions across the country, limiting the need to carry cash and currency exchange hassle. The acceptance of UPI in Qatar promotes interoperability and expands UPI's global reach.
The move is expected to benefit Qatar's retail and tourism sectors as UPI acceptance will increase transaction volumes of merchants acquired by QNB. This will further help them in scaling their business while offering convenience to customers.
"We aim to enhance the acceptance of UPI globally and create a truly interoperable global payment network. The partnership with QNB is a step towards this journey. It will help millions of Indian travelers make seamless, secure digital transactions and reduce their dependence on cash. As UPI makes its mark, we are focused on driving interoperability and making cross-border payment experiences hassle-free for users," Ritesh Shukla, MD & CEO, NPCI International stated in a press release on the matter.
Meanwhile, Yousef Mahmoud Al-Neama, Group Chief Business Officer, QNB, said “We are excited to introduce UPI in Qatar and proud to be at the forefront of innovating the payment landscape. This milestone not only enhances the convenience for Indian travelers but also brings significant benefits to the Qatari market by promoting cashless transactions, boosting retail and tourist sectors, and strengthening interoperability in the payments ecosystem. Importantly, it will also enable local merchants to thrive by attracting more customers and providing them with seamless digital payment options.”
It is worth noting that apart from Qatar--Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the United Arab Emirates (UAE) have allowed International merchant payments through UPI at select merchant outlets.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!