Highlights

  • Peru adopts UPI technology, first in South America
  • Partnership aims to strengthen financial infrastructure and foster economic growth
  • BCRP and RBI collaboration to promote financial inclusion and digital payments

Latest news

Saif Ali Khan makes first public appearance at Netflix event post the knife attack

Saif Ali Khan makes first public appearance at Netflix event post the knife attack

Sanju Samson sidelined for 5-6 weeks due to index finger fracture

Sanju Samson sidelined for 5-6 weeks due to index finger fracture

EU leaders vow to hit back if Trump triggers trade war

EU leaders vow to hit back if Trump triggers trade war

Delhi Police detains Swati Maliwal for protesting outside Kejriwal’s residence over polluted Yamuna

Delhi Police detains Swati Maliwal for protesting outside Kejriwal’s residence over polluted Yamuna

Rupee falls 55 paise to breach 87 level against USD as Trump tariff triggers trade war fears

Rupee falls 55 paise to breach 87 level against USD as Trump tariff triggers trade war fears

Sensex falls by 319 points amid weak global trends on trade war fears

Sensex falls by 319 points amid weak global trends on trade war fears

NSE Nifty 50: Top 5 stock losers of February 3, 2025

NSE Nifty 50: Top 5 stock losers of February 3, 2025

Top 5 Nifty 50 gainers today – February 3, 2025: Biggest stock moves

Top 5 Nifty 50 gainers today – February 3, 2025: Biggest stock moves

South America's Peru to adopt UPI like instant payment system in colloboration with NPCI

Peru becomes the first South American country to adopt UPI technology, aiming to enhance financial infrastructure, economic growth, and financial inclusion

Video Player is loading.
Current Time 0:00
Duration 0:00
Loaded: 0%
Stream Type LIVE
Remaining Time 0:00
 
1x
    • Chapters
    • descriptions off, selected
    • captions off, selected
      South America's Peru to adopt UPI like instant payment system in colloboration with NPCI

      The NPCI International Payments Limited along with Central Reserve Bank of Peru (BCRP) is deploying a UPI like payment system in Peru. With this Peru becomes the first South American country to adopt UPI technology

      UPI technology in Peru

      As per Ritesh Shukla, the CEO of NPCI International, the partnership aims to strengthen Peru’s financial infrastructure, to foster economic growth.

      “Our partnership with the BCRP aims to strengthen Peru’s financial infrastructure, to foster economic growth. We will be working together to address our common objective of promoting digital payments, financial inclusion, cost optimization, and transparency in the payment landscape, with scope for further scalability and adaptability, to embrace future technological advancements and market demands. It also reflects on our commitment towards advancing digital public goods across the globe.”

      This partnership also empowers the Central Reserve Bank of Peru to establish a reliable and efficient real-time payments platform within the country. UPI facilitates instant payments between individuals and businesses, thereby reducing reliance on cash-based transactions and expanding the use of digital payments to Peru’s large unbanked population. This also enables greater connectivity and interoperability with both domestic and international payment networks.

      Meanwhile, Governor of the BCRP, Julio Velarde has acknowledged, Reserve Bank of India's support as a cornerstone for this agreement.

      The support of the Reserve Bank of India has been a cornerstone of this agreement. The BCRP aims to promote financial inclusion, security, and efficiency and to introduce new use cases in digital payments. Additionally, we consider that this new infrastructure will play a fundamental role in fostering innovation and in allowing new participants to enter the Peruvian ecosystem”, said Julio Velarde.

      Also watch: UPI transactions in India soar: Highest ever transactions seen in December 2023

      ADVERTISEMENT

      Up Next

      South America's Peru to adopt UPI like instant payment system in colloboration with NPCI

      South America's Peru to adopt UPI like instant payment system in colloboration with NPCI

      Rupee falls 55 paise to breach 87 level against USD as Trump tariff triggers trade war fears

      Rupee falls 55 paise to breach 87 level against USD as Trump tariff triggers trade war fears

      NSE Nifty 50: Top 5 stock losers of February 3, 2025

      NSE Nifty 50: Top 5 stock losers of February 3, 2025

      Top 5 Nifty 50 gainers today – February 3, 2025: Biggest stock moves

      Top 5 Nifty 50 gainers today – February 3, 2025: Biggest stock moves

      Sensex falls by 319 points amid weak global trends on trade war fears

      Sensex falls by 319 points amid weak global trends on trade war fears

      Indian stock market sector-wise performance today - February 3, 2025

      Indian stock market sector-wise performance today - February 3, 2025

      ADVERTISEMENT

      editorji-whatsApp

      More videos

      Global stock market indices: How the world markets performed today - 3 February 2025

      Global stock market indices: How the world markets performed today - 3 February 2025

      Indian economy to grow at 6.5% in FY26: Crisil

      Indian economy to grow at 6.5% in FY26: Crisil

      India-UK to resume FTA talks on February 24, focus on trade, investments, and market access

      India-UK to resume FTA talks on February 24, focus on trade, investments, and market access

      Budget 2025: What becomes cheaper and costlier this year

      Budget 2025: What becomes cheaper and costlier this year

      Budget 2025: One crore middle-income taxpayers exempt from taxes

      Budget 2025: One crore middle-income taxpayers exempt from taxes

      Budget 2025 key announcements: Income tax relief, defence boost, and infrastructure investments

      Budget 2025 key announcements: Income tax relief, defence boost, and infrastructure investments

      Budget 2025: Rs 11.21 lakh crore allocated for capital expenditure, 0.9% increase from 2024-25

      Budget 2025: Rs 11.21 lakh crore allocated for capital expenditure, 0.9% increase from 2024-25

      Budget 2025: Finance Minister Nirmala Sitharaman sets record with eighth consecutive budget speech

      Budget 2025: Finance Minister Nirmala Sitharaman sets record with eighth consecutive budget speech

      Sensex, Nifty end flat in highly volatile trade on Budget day

      Sensex, Nifty end flat in highly volatile trade on Budget day

      PM Modi hails Union Budget 2025 as a 'force multiplier' for India's growth and development

      PM Modi hails Union Budget 2025 as a 'force multiplier' for India's growth and development

      Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.