UPI-AANI Integration: Prime Minister Narendra Modi’s recent visit to Abu Dhabi saw the unveiling of a transformative agreement, a landmark initiative to strengthen economic ties between India and the UAE. Supported by the Ministry of External Affairs, this historic agreement marks the integration of India’s Unified Payments Interface (UPI) with UAE AANI, marking a major milestone in cross-border financial transactions.
Seamless Cross-Border Transactions with UPI-AANI Integration:
The MoU signed during Prime Minister Modi’s visit underscores the commitment of the two countries to simplify payment platforms and promote greater financial inclusion. With the integration of UPI and AANI, individuals and businesses alike can enjoy unprecedented convenience by sending and receiving funds between Indian and UAE bank accounts using their smartphones.
This innovative partnership promises fast, secure transactions and embodies seamless integration between technology and finance. Using the power of UPI, users can easily transfer funds to recipients in the UAE by initiating a transaction from their mobile device. Once initiated, funds are transferred seamlessly from the sender’s Indian bank to the beneficiary’s account in the UAE with the help of the AANI platform, ensuring quick and easy transfers within seconds.
Most read: Maruti Suzuki Achieves Milestone! 500,000 Taxis Sold as Ola-Uber Demand Soars
RuPay-JAYWAN Card Integration:
RuPay in India and JAYWAN Card in UAE have become strategically interconnected with UPI-AANI integration, marking a major breakthrough in facilitating direct payments to Indian tourists and businessmen in the UAE. This groundbreaking collaboration not only eliminates cumbersome currency conversion fees but also reduces reliance on foreign cards, giving users greater financial autonomy and flexibility.
Prime Minister Narendra Modi’s announcement of RuPay and JAYWAN card integration underscores the government’s commitment to inclusive economic growth and strengthening bilateral trade ties. Using the TapPay RuPay card, users can seamlessly conduct transactions in the UAE, leveraging India’s state-of-the-art payment technology as the basis of JAYWAN’s operations.
Also read: Big update on Paytm Payment Bank! EPF money cannot be withdrawn through Payments Bank, EPFO said
UPI and RuPay Extend Reach to Sri Lanka and Mauritius:
In further evidence of India’s growing presence in the digital payments space, Prime Minister Modi announced the expansion of UPI and RuPay services in Sri Lanka and Mauritius. The groundbreaking was announced at a virtual event attended by key dignitaries including Indian Prime Minister Pravinda Jagannath and Sri Lankan President Ranil Wickremesinghe, emphasizing India’s commitment to regional economic integration and increased financial inclusion.
The expansion of the UPI payment system in seven countries, including France, Singapore and Nepal, indicates India’s emergence as a global leader in digital finance. With each new integration, UPI and RuPay continue to redefine the contours of international transactions, ushering in an era of unparalleled convenience and connectivity for users worldwide.