Tech

NPCI partners with Worldline to bring UPI, RuPay services across Europe: All details


Global payment service provider Worldline has joined hands with NPCI International Payments in a move to expand acceptance of Indian payment facilities across Europe. NPCI International Payments is the international branch of National Payments Corporation of India (NPCI) – the company that promotes digital payments in India.

As part of the partnership, Worldline will bring even more convenience to Indian customers in the European market by enabling merchants’ point of sale (POS) systems to accept payments from UPIas RuPayNPCI’s proprietary card payment network solution, a joint statement by the two entities said Tuesday.

This is expected to bring a multitude of benefits to merchant-related customers due to the increase in arrivals and spending from Indian tourists.

Currently, customers from India pay via international card networks.

However, the hugely popular UPI allows multiple bank accounts to be accessed through a single mobile app, thus enhancing the customer experience while opening up new business prospects for merchants. countries, the joint statement said.

“Supported through Worldline QR, the company’s popular product for accepting all QR-based payments, the first target markets for NIPL set up include BENELUX and Switzerland with plans plans for further expansion, as Worldline QR is rolled out in more European countries,” it added.

India is one of Europe’s most important tourism markets with an estimated 10 million Indians visiting the region each year before the pandemic, the statement said, citing the Schengen Visa. Now, as the impacts of COVID-19 begin to ease, that number, it said, is expected to grow significantly.

“Our analysis of international customers’ payment behavior has shown a recent push back against international card schemes and preference for whatever mobile payment method they are familiar with. Our partnership with NPCI International seeks to minimize the risk of excluding or limiting Marc-Henri Desportes, Worldline’s Deputy CEO said in the statement.

NPCI’s UPI platform recorded 38.74 billion transactions, valued at $954.58 billion (approximately Rs 78,52,900 crore), making it the best performing real-time payments ecosystem in the world. gender. Similarly, 714 million RuPay cards have been issued to date, reaching over 1.3 billion transactions.

“At Worldline we found a partner that offers us good coverage of the European markets as well as an advanced and widely applicable solution. The implementation accepts Applications supporting UPI and RuPay Cards across Europe is very important to us, as we expect the mobility of Indians in the continent to increase in the coming years. This partnership will empower Indian consumers to continue using their preferred payment methods as they travel across Europe,” said Ritesh Shukla, CEO of NPCI International Payments in the statement. Father.


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