UPI goes global: India launches real-time payments at Lulu stores in Qatar | WATCH

Doha: India expanded the reach of its Unified Payments Interface (UPI) on Monday by launching the facility at Lulu Group's stores in Qatar, following its rollout at duty-free outlets in Hamad International Airport last month.

Commerce and Industry Minister Piyush Goyal inaugurated the UPI facility at a Lulu store in Doha, highlighting how the expansion will facilitate smoother and more cost-effective movement of capital between India and Qatar. Last month, NPCI International Payments Ltd (NIPL), in partnership with Qatar National Bank (QNB), introduced UPI at point-of-sale terminals across Qatar for merchants acquired by QNB.

The rollout is part of a collaborative effort among NPCI International Payments Ltd, Qatar National Bank, and Japanese payments gateway NETSTARS. Goyal encouraged other banks and institutions in Qatar to adopt UPI, calling it a platform with the potential to revolutionise trade between the two countries. He emphasised that integrating the payment systems of Qatar and India would enable people to trade more efficiently, at a lower cost, and almost in real time.

With approximately 830,000 Indians residing in Qatar, this launch is expected to make remittances faster and cheaper. Qatar becomes the eighth country to accept UPI, supporting real-time, cashless payments and reducing dependency on foreign currency or international cards. The service benefits both Indian travellers and local Qatari businesses, promoting digital payments adoption, enhancing India's international financial footprint, and providing greater convenience and security in commercial zones.

Goyal also noted that since its inception nine years ago, UPI has grown into India’s most successful digital payment platform, handling over 85% of the country’s digital payments and nearly 50% of global digital transactions, with 640 million transactions occurring daily on average.

With inputs from PTI