NPCI International and PPRO Partner to Enable Global E-Commerce Payments
NPCI International, the global arm of NPCI (National Payments Corporation of India), has teamed up with PPRO, a UK-based digital payments infrastructure provider, to enable global e-commerce payments through UPI (Unified Payment Interface). This collaboration will allow Indian consumers to use UPI or RuPay cards to shop in international stores using Indian Rupees. This development will provide a seamless and secure payment experience for Indian consumers who make cross-border purchases.
Expansion of PPRO's LPM Coverage Map
The partnership between NPCI International and PPRO will add India to PPRO's Local Payment Method (LPM) coverage map. This addition will allow for the acceptance of RuPay cards and UPI across PPRO's global clients, such as payment service providers (PSPs) and international merchant acquirers. This development will provide Indian consumers with access to a vast global network of merchants.
UPI's Role in Revolutionizing Digital Payments Landscape
Since its launch in 2016, UPI has become India's most popular payment method, processing around 60% of all domestic payments in the country and 40% of payments globally. UPI has over 325 million active users and 390 banks interoperable on the network. In March 2023, people conducted over 8.7 billion UPI transactions, which is the highest since its launch. The partnership between NPCI International and PPRO is expected to further boost the growth of digital payments in India and make cross-border e-commerce more accessible for Indian consumers.
Quote from NPCI CEO
Commenting on the partnership, Mr. Ritesh Shukla, CEO-NIPL, said, "UPI has revolutionized the digital payments landscape in India and is respected globally for its role in simplifying and democratizing payments. By partnering with PPRO, a market leader in the payments infrastructure space, which powers a vast PSP and merchant network, Indian consumers will now be able to shop online with merchants around the world and pay safely and easily using UPI." Overall, the partnership between NPCI International and PPRO is expected to bring about significant changes in the global e-commerce industry by enabling secure, seamless, and efficient cross-border payments for Indian consumers. Read the full article
