Peru Adopts India’s UPI System for Instant Digital Payments

The partnership between NPCI International Payments Limited and the Central Reserve Bank of Peru aims to introduce a UPI-like instant payment system in Peru, marking the first such implementation in South America. This initiative seeks to enhance Peru’s financial infrastructure, promote economic growth, and increase financial inclusion. Supported by the Reserve Bank of India, this collaboration is part of a broader strategy to globalize UPI technology, with plans to expand to 20 countries by 2028-29.

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