India Launches UPI in Maldives

Indian External Affairs Minister Subrahmanyam Jaishankar announced the launch of India’s Unified Payments Interface (UPI) in the Maldives today.

Speaking at the Ministry of Foreign Affairs during his three-day official visit, Jaishankar confirmed that a Memorandum of Understanding (MoU) has been signed to introduce UPI services in the Maldives.

UPI, developed by the National Payments Corporation of India, enables real-time inter-bank transactions via mobile phones.

“We hope to see the first UPI transactions in the Maldives very soon,” Jaishankar stated, highlighting the potential benefits for tourism.

The introduction of UPI will facilitate easier payments for people traveling between the Maldives and India, allowing online transactions through a dedicated app. India previously introduced UPI in Sri Lanka last year.