India-Namibia Forge Digital Future with Landmark UPI Agreement

The Ministry of External Affairs announced a historic licensing agreement for real-time payments using India's Unified Payments Interface (UPI) in Namibia. This collaboration is expected to revolutionize Namibia's financial landscape, boost digital services, and strengthen India-Namibia ties amid Prime Minister Modi's significant diplomatic tour.

In a landmark development, India and Namibia have signed a licensing agreement to implement the Unified Payments Interface (UPI) system for real-time payments in Namibia, the Ministry of External Affairs announced on Wednesday. This unprecedented move marks Namibia as the first nation globally to deploy India's innovative digital payment technology.

During a press briefing on Prime Minister Narendra Modi's Namibian visit, Dammu Ravi, Secretary (East), emphasized the transformative potential of this partnership between the National Payment Corporation of India (NPCI) and Namibia's Central Bank. NPCI International Payments Limited (NIPL) aims to modernize Namibia's financial infrastructure by leveraging UPI's technology.

This collaboration is set to boost digital financial services, promote economic inclusion, and offer a significant stride in digital transactions within Namibia. Prime Minister Modi highlighted these advancements when addressing the Namibian Parliament, symbolizing a strengthened bilateral relationship and mutual growth in the digital sector.

(With inputs from agencies.)