COLOMBO (News 1st); Foreign Minister Ali Sabry said that UPI will be launched between India and Sri Lanka from Monday (12).
Unified Payments Interface or UPI is a digital payment gateway that facilitates instant person-to-person or person-to-merchant transactions using a mobile phone.
Launched in India in 2016, this is currently the most popular payment method in India.
Foreign Minister Ali Sabry said that UPI or Unified Payments Interface will be officially launched online on Monday (12).
The Minister said the system is expected to be implemented centering Colombo and is expected to increase tourism in Sri Lanka.
The agreement regarding this Unified Payments Interface between Sri Lanka and India was signed between Indian Prime Minister Narendra Modi and President Ranil Wickremesinghe in October last year, during President Wickremesinghe's two-day official visit.