By Jaspreet Kalra
MUMBAI (Reuters) – The overseas arm of India’s National Payments Corporation of India (NPCI) will build a digital payments system for Trinidad and Tobago modeled after India’s United Payments Interface (NASDAQ:) (UPI), according to a statement Friday.
The NPCI International Payments Limited (NIPL) said the deal with Trinidad and Tobago’s Ministry of Digital Transformation is to build a payment platform for both person-to-person and person-to-merchant transactions.
The NPCI, a quasi-regulator under the central bank, is a public, non-profit organization that oversees India’s retail payment systems, including UPI, the country’s most popular form of digital payments.
Earlier this year, NIPL had agreed to develop digital payment systems for Peru and Namibia, with UPI as the blueprint.
The NPIL, which emerged from the NPCI to promote the adoption of Indian payment systems abroad, is also in talks with African and South American countries to help them build payment systems, Reuters reported earlier this week.
