UPI Expands to Uzbekistan in Major Digital Payments Push
What Happened
India's Unified Payments Interface (UPI) is set to be rolled out in Uzbekistan, allowing Indian visitors to make payments using their existing UPI apps. The move follows a network agreement between NPCI International Payments Ltd (NIPL) and Uzbekistan's HUMO payment system, aimed at linking the two countries' digital payment ecosystems. The rollout is expected within about a year.
Key Takeaways
The initiative will make travel and transactions easier for Indians visiting Uzbekistan while deepening economic ties between the two countries. It comes alongside a broader push by India and Uzbekistan to raise bilateral trade from roughly $1 billion to $5 billion by 2030 and expand cooperation in several sectors.