Tel Aviv working on joint system to allow UPI-driven transactions
Israel is working closely with India to create a joint framework that will enable Unified Payments Interface (UPI)-based digital transactions between the two countries. According to senior Israeli officials, the system aims to simplify cross-border payments for businesses, tourists, and professionals. UPI, developed by the National Payments Corporation of India, has already transformed digital payments domestically and is now being expanded globally. By integrating this system, India and Israel hope to promote faster, safer, and more cost-effective financial transactions. The initiative is expected to encourage bilateral trade, enhance tourism, and support the growing Indian community in Israel. Discussions are underway to align financial institutions and technology providers from both sides to ensure smooth implementation. This partnership demonstrates India’s increasing influence in the global fintech space while reinforcing Israel’s reputation as a technology leader. The collaboration highlights a step toward building stronger economic and digital ties between the two nations.
The Key points
- Israel and India plan UPI-powered cross-border payments.
- System to ease transactions for trade, travel, and business.
- UPI’s success in India inspires global adoption efforts.
- Talks involve financial institutions and tech providers.
- Aim is to make payments faster and cost-efficient.
- Initiative supports growing Indian community in Israel.
- Boost expected for bilateral trade and tourism.
- Reflects India’s rising global fintech influence.
- Strengthens Israel’s role in digital technology partnerships.
- Marks new step in India-Israel economic cooperation.
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