India and Sri Lanka are working on collaborating on digital payments. A link between India’s Unified Payments Interface (UPI) and the island nation’s LankaPay is in progress, Indian Prime Minister Narendra Modi said yesterday.
The Prime Minister was speaking at a ceremony to flag off a ferry service between Nagapattinam, Tamil Nadu and Kankesanthurai in Sri Lanka. He said “Our vision for connectivity goes beyond the transport sector.”
India and Sri Lanka collaborate closely in a wide range of areas such as FinTech and energy. Digital payments have become a mass movement and a way of life in India due to UPI, he said.
UPI, which was launched in April 2016, has become the predominant mode of payment in the country. So far, India has linked its UPI with Singapore and has signed an agreement with the UAE to connect the UPI with the Integrated Payment Platform (IPP) there. – BQ Prime
