NPCI International Payments Limited (NIPL) has signed an agreement with the Bank of Namibia (BoN) for developing an instant payment system like Unified Payment Interface (UPI) for the African nation.

Banking & Finance

NPCI International Payments Limited (NIPL) has signed an agreement with the Bank of Namibia (BoN) for developing an instant payment system like Unified Payment Interface (UPI) for the African nation. This partnership marks NPCI’s first-ever collaboration with a central bank to deploy the UPI stack in an international market. The collaboration is aimed at developing real-time person-to-person (P2P) and person-to-merchant (P2M) transactions in Namibia. Through this collaboration, BoN will gain access to best-in-class technology and insights from NIPL, enabling the creation of a similar platform in Namibia for the digital welfare of its citizens. The agreement aims at improving accessibility, affordability, connectivity with both domestic and international payment networks, and interoperability of payments.


      In January 2024, NPCI announced the launch of the UPI-PayNow linkage that enables Indians to receive remittances directly into their bank accounts from Singapore and vice-versa.

     

     

 

     


Bank of Namibia

Founded- July 1990
HQ- Windhoek, Namibia
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