Prime Minister Narendra Modi revealed this advancement following discussions with Indonesian President Prabowo Subianto in Jakarta on Tuesday (July 7).
“We are pleased that India’s UPI will be integrated with Indonesia’s payment system. This initiative will enhance both the ease of doing business and the experience of travel,” Modi stated in his press release.
Once it goes live, this integration is anticipated to enable travelers and businesses to conduct cross-border retail payments more effortlessly through their local payment applications, thereby decreasing the dependence on cash and currency exchange for daily transactions.
This announcement coincided with the signing of nearly a dozen agreements aimed at bolstering cooperation in various sectors, including critical minerals, technology, food security, medicines, maritime security, and defense.
Countries supporting UPI
Indonesia will join an expanding roster of nations where India is extending UPI-based payment capabilities. UPI-linked payment solutions are already operational in countries like Singapore, the UAE, France, Sri Lanka, Mauritius, Bhutan, and Nepal, as India actively seeks similar cross-border payment collaborations with additional countries.
The UPI expansion aligns with India’s comprehensive efforts to enhance the accessibility of digital payments for Indian travelers and businesses abroad while fostering quicker and more affordable cross-border transactions.
