India's UPI to integrate with Indonesia's payment system, says PM Modi
New Delhi, July 7
India's Unified Payments Interface will be integrated with Indonesia's payment system, a move expected to make cross-border payments easier and strengthen trade, tourism and business between the two countries, Prime Minister Narendra Modi announced on Tuesday during his visit to Jakarta.
Union Minister for Electronics and Information Technology Ashwini Vaishnaw shared the announcement made by PM Modi.
Earlier today PM Modi, while addressing a joint statement with Indonesian President Prabowo Subianto after bilateral talks stated, "India's UPI is going to integrate with Indonesia's payment system. This will strengthen both ease of doing business and ease of travel."
President Prabowo Subianto also confirmed that both countries will work on establishing cross-border QR payment linkages.
The two leaders reviewed cooperation across trade, investment, digital and financial technology, defence, energy, healthcare, space and critical minerals. They also welcomed the launch of the Indonesia Open Network (ION), which is based on India's Open Network for Digital Commerce (ONDC), reflecting deeper collaboration in digital public infrastructure.
The UPI integration is expected to allow users from both countries to make digital payments more seamlessly, reducing dependence on cash and simplifying transactions for travellers and businesses. It is also expected to support cross-border commerce by making payments faster and more convenient.
The move builds on India's growing efforts to expand UPI internationally. The payment platform is already operational in countries including Singapore, the UAE, Bhutan, Nepal, Sri Lanka, France, Mauritius, Qatar, Cambodia and Greece, enabling Indian users to make merchant payments and, in some markets, transfer money directly using UPI-linked applications.
According to the Ministry of Electronics and Information Technology, India has signed MoUs or agreements with 23 countries for cooperation on Digital Public Infrastructure (DPI), while UPI is already live in more than eight countries, including Singapore, the UAE, Bhutan, Nepal, Sri Lanka, France, Mauritius and Qatar. The ministry has said the growing international adoption of UPI is strengthening India's position in the global digital payments ecosystem.
The integration with Indonesia is expected to deepen digital economic cooperation between the two countries while supporting India's broader push to make UPI a globally accepted payment platform. The initiative is also likely to benefit businesses, tourists and the Indian migrants by enabling smoother and more efficient cross-border transactions.
— ANI
Reader Comments
This is a smart move. Digital payments are the future, and India is leading the way in Asia. Integration with Indonesia opens up a huge market. Hope the security protocols are robust though - that's always a concern with cross-border payments.
Finally! My brother lives in Bali and we always struggle sending money. UPI integration will be a game-changer for NRIs like us. Also great for tourism - imagine paying for your nasi goreng with UPI! 😄
Impressive reach! UPI in 8+ countries already and now Indonesia. But I wonder about the technical challenges - different banking systems, currency conversion rates, and user adoption. Still, credit to India for pushing this forward. The ONDC collaboration is also noteworthy.
As a small business owner who exports textiles, this is excellent! Cross-border payments used to take days and cost me heavily in fees. If UPI simplifies that, it'll boost small businesses like mine. Modi government's digital push is really helping the common man. 💪
Great initiative but I hope they ensure data privacy and security standards are maintained. With so many countries linked, any breach could be catastrophic. The RBI and MeitY need to be very careful. Otherwise, it's a brilliant step for digital diplomacy!
J We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.