NIPL Partners with Trinidad and Tobago to Launch Real-time Payments Platform

NPCI International Payments Limited (NIPL) has partnered with the Ministry of Digital Transformation of Trinidad and Tobago to develop a real-time payments platform based on India's Unified Payments Interface (UPI). This aims to expand digital payments and foster financial inclusion in Trinidad and Tobago.

NPCI International Payments Limited (NIPL) has announced a strategic partnership with Trinidad and Tobago's Ministry of Digital Transformation to create a real-time payments platform modeled after India's Unified Payments Interface (UPI).

This collaboration positions Trinidad and Tobago as the first Caribbean nation to adopt the UPI system, which has significantly modernized India's financial sector. Since its inception, UPI has logged nearly 15 billion transactions as of August 2024, with a transaction value nearing USD 245 billion.

The partnership aims to promote financial inclusion and expand digital payment options in Trinidad and Tobago through reliable person-to-person (P2P) and person-to-merchant (P2M) transactions. Leveraging UPI's technology and successful implementation, the initiative seeks to improve accessibility, affordability, and connectivity within domestic and international payment networks.

(With inputs from agencies.)