Trinidad and Tobago partners with NPCI for digital payments system
NIPL continues promoting India’s UPI abroad, with plans to assist several African and South American countries in building digital payment systems.
India’s National Payments Corporation of India (NPCI) will establish a digital payments system for Trinidad and Tobago, replicating its successful United Payments Interface (UPI). NPCI International Payments Limited (NIPL), the overseas arm of NPCI, will collaborate with the Ministry of Digital Transformation in Trinidad and Tobago to create a platform that supports both person-to-person and person-to-merchant transactions.
NPCI, a public non-profit entity under India’s central bank, manages India’s retail payment systems, with UPI being the most widely used mode for digital payments in the country. The initiative in Trinidad and Tobago follows similar agreements made earlier this year by NIPL to develop digital payment systems in Peru and Namibia, using UPI as a template.
NIPL was created to promote the global adoption of India’s digital payment solutions. Discussions are also underway with several African and South American countries to assist in building their payment infrastructures, according to recent reports.
These efforts align with NPCI’s broader goal of expanding the reach of India‘s payment systems, driving the digital transformation of global payment ecosystems.
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