There’s significant news for Indians traveling to Qatar for work or tourism. NPCI International Payments Limited (NIPL), in partnership with Qatar National Bank (QNB), has launched the QR code-based Unified Payments Interface (UPI) in Qatar. Indian tourists will now be able to make digital payments in Qatar easily using their mobile phones.
This feature will be available at merchants affiliated with QNB through Netstars’ payment solution. Qatar Duty Free is the first to implement this service. Subsequently, the service will be rolled out to major tourist destinations and retail outlets across the country.
Indian travelers will get convenience
Indians represent the second largest number of international travelers to Qatar. This partnership will eliminate the hassle of carrying cash and currency exchange for them. They will now be able to make real-time transactions across the country.
This move is not only convenient for travelers but will also benefit Qatar’s retail and tourism sectors. UPI acceptance will increase transaction volumes for QNB’s acquired merchants, helping them expand their businesses.
NIPL and QNB responded
Ritesh Shukla, MD and CEO of NIPL, said, “Our goal is to make UPI globally acceptable and create an interoperable global payment network. This partnership with QNB is an important step in that direction. This will enable millions of Indian travelers to make digital payments conveniently and securely, reducing their dependence on cash.”
Meanwhile, Yusuf Mahmoud Al-Nima, Group Chief Business Officer of QNB, said, “We are excited to introduce UPI in Qatar. This not only enhances the convenience of Indian travelers but also strengthens the Qatari market. It will promote cashless transactions, boost the retail and tourism sectors, and provide more customers to local merchants.”
UPI has been launched in many countries.
UPI is no longer limited to India; it has begun to be used in many countries. In addition to Qatar, international payments using UPI are now available at select merchant outlets in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the United Arab Emirates (UAE). This is considered a major step towards expanding India’s digital payments network globally.
To further expand this feature, the RBI is signing agreements with payment companies and central banks in various countries. The aim is to make UPI a global payment network, allowing Indians to make instant transactions from their phones in more countries. Furthermore, the RBI is also working to link UPI with foreign currencies such as the dollar or euro.
What is UPI?
UPI, or Unified Payments Interface, is a digital payment system developed by the National Payments Corporation of India (NPCI). It allows you to link multiple bank accounts within a single mobile app. You can send and receive money instantly, anytime, anywhere. All you need is internet access and a smartphone.
How UPI works
To use UPI, each user receives a Virtual Payment Address (VPA), such as mobile@upi. This allows for direct money transfers without entering a bank account number or IFSC code. When making a payment, you simply enter the UPI PIN, ensuring secure transactions.
Since the system runs on the instant IMPS service, money is transferred in seconds. This is why UPI has become the most convenient and reliable payment method today.
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