UPI Revolution: Peru Embraces Real-Time Payments with NIPL Partnership

NPCI International Payments Ltd (NIPL) partners with the Reserve Bank of Peru to deploy a UPI-like real-time payments system, making it the first South American country to adopt this technology. This strategic move aims to strengthen Peru's financial infrastructure and foster economic growth.

NPCI International Payments Ltd (NIPL) and the Reserve Bank of Peru have announced a landmark partnership to introduce a UPI-like real-time payments system in the Latin American country. This collaboration marks a historic milestone, making Peru the first nation in South America to adopt the globally acclaimed Unified Payment Interface (UPI) technology, NIPL stated in a release.

The partnership will empower the Central Reserve Bank of Peru (BCRP) to establish an efficient real-time payments platform, enabling seamless instant transactions between individuals and businesses. This initiative is expected to significantly enhance the nation's financial infrastructure.

NPCI International CEO Ritesh Shukla emphasized that the partnership aims to bolster Peru's financial framework, thereby promoting economic growth. NIPL operates as a wholly owned subsidiary of the National Payments Corporation of India.

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