NPCI will create an instant payment system like UPI for Namibia, signed agreement with the Bank of Namibia
The foreign branch of NPCI has signed an agreement with the Bank of Namibia (BoN) to develop an instant payment system like UPI for Namibia.
The foreign branch of NPCI has signed an agreement with the Bank of Namibia (BoN) to develop an instant payment system like UPI for Namibia. The partnership aims to help Namibia modernize its financial ecosystem by leveraging India's UPI technology and experience. This includes improving access, affordability connectivity, and interoperability with domestic and international payment systems.
NPCI International signs agreement with Bank of Namibia
NPCI International Payments Limited (NIPL) has signed an agreement with the Bank of Namibia (BoN) to assist in developing an instant payment system such as Unified Payment Interface (UPI) for Namibia, the statement said.
Ritesh Shukla, Chief Executive Officer (CEO), of NPCI International, said, "Enabling this technology will give the country sovereignty in the digital payments landscape. It will benefit from better payment interoperability and better financial access for the underserved population."
This is the target till 2025
“We aim to increase access and affordability for underserved populations, achieve full interoperability of payments instruments by 2025, modernize the financial sector, and ensure a secure and efficient national payments system,” said Johannes Gwaxab, Governor of the Bank of Namibia."
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