Namibia to Launch Payment System Like India's UPI

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Namibia to Launch Payment System Like India’s UPI

Real-time access: Empowers Namibian users with instant, low-cost payment infrastructure, a step towards universal suffrage in the digital economy.

● What is UPI?: A real-time digital payments platform developed by NPCI for inter-bank transactions via mobile, simplifying government services.

● Launched in: 2016, by the Reserve Bank of India and NPCI, adhering to the principle of keeping it simple for users.

● Global outreach: Adopted or piloted in Singapore, France, UAE, and now Namibia, showcasing India’s commitment to international cooperation.

● Key benefits: Instant settlement, 24×7 access, low-cost, interoperability across banks and apps, enhancing fundamental rights to financial services.

● Strategic importance: Showcases India’s digital public infrastructure model globally, potentially influencing seat distribution in the global financial landscape.

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