NPCI and Bank of Namibia Partner to Revolutionize Digital Payments
| Aspect | Details |
|---|---|
| Partnership | NPCI International Payments Limited (NIPL) partners with Bank of Namibia (BoN). |
| Objective | Introduce a real-time payment system similar to India's UPI in Namibia. |
| Significance | NPCI's first collaboration with a central bank for deploying UPI internationally. |
| Focus | Enhance accessibility, affordability, and connectivity in Namibia's financial ecosystem. |
| Benefits for Namibia | Sovereignty in digital payments, improved financial access, and interoperability. |
| Global Expansion of UPI | Recent initiatives include UPI-PayNow linkage (India-Singapore) and efforts in France, Sri Lanka, Singapore, and Mauritius. |
| Goal | Drive financial inclusion, modernization, and economic prosperity in Namibia. |