Newsblare

World News

UAE Introduces UPI Payments Nationwide Outlets to Attract Indian Tourists

UAE introduces UPI payments

UAE supermarket introduces UPI payments nationwide. The UAE business is known as a conglomerate business which has accepted India’s Unified Payment Interface (UPI) across its all outlets. Unified payment interface is the payment system developed by National Payments corporation of India in 2016 which allows instant payment to anyone. 

As the UAE supermarket introduces UPI payments, the first payment made through the Unified payment interface was at the Al Maya supermarket which was conducted in the presence of renowned personality Deputy Consul General of India in Dubai, Yatin Patel. Kamal Vachani, Group Director and Partner of Al Maya Group emphasized how UPI payments make shopping easier for Indian customers. He talked about the many benefits. He shared how this new payment option adds convenience.

“We are thrilled to be at the forefront of this innovative payment solution in the UAE. The introduction of UPI will not only enhance the shopping experience for our customers but also strengthen the economic ties between India and the UAE,” Vachani said.

Also Read: A Student Invents An AI Machine Which Writes Homework in Your Own Handwriting

How UPI Works

As UAE supermarket introduces UPI payments. Here is how UPI system works:

Single Interface: UPI combines multiple bank accounts into one app. Users can link various accounts to this single mobile app.

Peer-to-Peer Transfers: UPI allows real-time money transfers between bank accounts. It lets users send money via a mobile platform.

Two-Click Authentication: Users can complete transactions with a simple two-click process. This eliminates the need to enter bank details every time.

Safe and Secure: UPI regulated by the Reserve Bank of India (RBI) ensures secure money transfers without physical cash or traditional banking.

Push and Pull Mechanism:

  • Sending Money (Push): Users log in, select “Send Money/Payment,” enter the recipient’s ID, choose the account, and confirm with a PIN.
  • Receiving Money (Pull): Recipients share their UPI ID or scan a QR code to get funds.

UPI Previous Track Record As UAE Supermarket Introduces UPI Payments

He said UPI’s success in India has sparked global collaborations. Many countries are adopting it. The UAE will benefit a lot from this integration. It is a popular spot for Indian tourists. “With UPI’s proven track record and its growing acceptance worldwide, we are confident that this will pave the way for more seamless and efficient transactions, benefitting not just our customers but also the broader economy,” he added.

Also Read:

CEO & Editor
I'm Ved Prakash, Founder & Editor @Newsblare Media, specialised in Business and Finance niches who writes content for reputed publication such as Investing.com, Stockhouse.com, Motley Fool Singapore, etc. I'm the contributor of different... news sites that have widened my views on the current happenings in the world.

2 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *