Rapid Fire
Launch of RuPay Services in Maldives
- 28 May 2024
- 1 min read
Maldives will soon launch India's RuPay service in its country.
- RuPay is the first-of-its-kind domestic Card payment network of India, with wide acceptance at ATMs, Point of Sale (POS) devices and e-commerce websites across India.
- RuPay is a product of National Payment Corporation of India (NPCI), the umbrella organization that powers retail payments in the country.
- NPCI is a "Not for Profit Company" under the Companies Act.
- The Payment and Settlement Systems Act, 2007, gave authority to the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) to establish a safe electronic payment and settlement system in India.
- NPCI International Payments Ltd (NIPL) is the international arm of (NPCI), established in 2018 to export India's digital payment solutions like RuPay and UPI globally.
- RuPay has launched various card variants catering to the different segments of society.
- RuPay is a product of National Payment Corporation of India (NPCI), the umbrella organization that powers retail payments in the country.
- RuPay's transactions are already accepted in Singapore, Bhutan, UAE, Bahrain, and Saudi Arabia.
Read more: UPI Services in Sri Lanka and Mauritius, India Maldives Relations
