NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of the National Payments Corporation of India, announced on Wednesday that it has powered QR code-based Unified Payments Interface (UPI) acceptance in Qatar through its partnership with Qatar National Bank (QNB).
With this launch, Indian tourists can now make easy UPI payments at popular tourist destinations and Qatar Duty Free, the first merchant to become live on UPI in Qatar.
The service is accessible via point-of-sale (POS) terminals in merchants acquired by QNB, a prominent financial entity across the Middle East and Africa, and utilizes NETSTARS' payment solution, a Japanese provider of payment gateways.
Indians are the second-largest group of international tourists in Qatar, and this collaboration will help enable real-time transactions across the country, eliminating the need to carry cash or change currency.
"We intend to accelerate the adoption of UPI on a worldwide scale and build an interoperable global payment network. The association with QNB is one step towards this odyssey. It will enable millions of Indian tourists to make frictionless, secure digital payments and reduce their reliance on cash," stated Ritesh Shukla, MD and CEO, NPCI International.
He further mentioned that while UPI is expanding globally, the emphasis is always on enabling interoperability and ensuring that users have frictionless cross-border payment experiences.
The launch of UPI in Qatar not only encourages interoperability but also increases UPI's footprint globally.
In addition, it is also anticipated to benefit Qatar's tourism and retail industries, as acceptance of UPI is likely to contribute to higher volumes of transactions for QNB-acquired merchants, enabling them to grow their business while offering greater convenience to customers.
Yousef Mahmoud Al-Neama, Group Chief Business Officer, QNB, added, "We are looking forward to launching UPI in Qatar and are pleased to be leading the way in revolutionizing payments."
He further mentioned that this achievement brings greater convenience for Indian travelers and also benefits the Qatari market through encouraging cashless payments, facilitating retail and tourism, and building interoperability in the payments environment.
The partnership bolsters India's digital payments footprint and provides Indian travelers in Qatar with a safe and frictionless payment experience.
“We are honoured to be part of this strategic partnership and milestone, enabling UPI for the first time in Qatar together with NPCI International, Qatar Airways Group and Qatar National Bank," said Tsuyoshi Ri, Representative Director and CEO of NETSTARS Co., Ltd.
