Rapid Fire
NPCI International Partners with the Bank of Namibia
- 06 May 2024
- 1 min read
NPCI International Payments Ltd. (NIPL) signed an agreement with the Bank of Namibia to create a real-time instant payment system similar to India's Unified Payment Interface (UPI).
- The new system will facilitate faster Person-to-Person (P2P) and Person-to-Merchant (P2M) transactions, promoting financial inclusion for underserved populations.
- NIPL, established on 3rd April 2020, as NPCI’s fully owned subsidiary, focuses on internationalising the RuPay card scheme and UPI mobile payment solution.
- NIPL aims to revolutionise global payments through innovation and technology, enhancing payment systems worldwide, especially in resource-limited countries, leveraging its extensive experience and advanced payment knowledge.
- Namibia is the second least densely populated, located along the Southern African coast.
- Namibia shares a border with the surrounding countries of South Africa, Botswana, Zimbabwe, Zambia, and Angola.
- It has a diverse environment that is home to deserts, marshlands, savannas, mountains, and river valleys.
Read more: Unified Payments Interface (UPI)
