India and Maldives partners to introduce the Unified Payments Interface in the Maldives

By agreeing to implement the Unified Payments Interface (UPI) in the Maldives, India, and the Maldives have just made a big step towards enhancing their economic cooperation. S. Jaishankar, the minister of external affairs for India, stated that the project is anticipated to have a "very positive" effect on the tourist industry in the archipelago nation. During Jaishankar's three-day official visit to the Maldives, the two nations signed the Memorandum of Understanding (MoU), ushering in a new era of bilateral ties.

UPI, an instantaneous real-time payment system, was created by the National Payments Corporation of India (NPCI) to enable interbank transactions using mobile devices. The tourism industry stands to gain significantly from the implementation of UPI, since it would streamline payment procedures for both domestic and foreign tourists.