Exciting news for Indian travelers! NPCI International Payments Ltd (NIPL) has joined forces with Qatar National Bank (QNB) to introduce QR code-based Unified Payments Interface (UPI) across Qatar. This means you can now make easy payments at various merchant point-of-sale terminals powered by QNB and NETSTARS’ payment solution.
This landmark initiative makes Qatar Duty Free the very first merchant to officially accept UPI payments. Imagine effortlessly paying at Qatar’s stunning tourist attractions and duty-free shops, all with the convenience of your mobile phone. The National Payments Corporation of India (NPCI) highlighted this significant step in a recent statement.
Given that Indian visitors form the second-largest group of international tourists in Qatar, this partnership is set to revolutionize their travel experience. It allows for instant, real-time transactions throughout the country, effectively minimizing the need to carry physical cash and eliminating the frustrations of currency exchange rates.
The integration of UPI in Qatar isn’t just about traveler convenience; it also marks a significant stride in payment interoperability and broadens UPI’s international footprint. It’s a win-win situation for global digital payments.
Furthermore, Qatar’s vibrant retail and booming tourism sectors are poised to gain substantially. With wider UPI acceptance, merchants partnered with QNB can expect a boost in transaction volumes, leading to greater business growth and an enhanced shopping experience for all customers.
“Our vision is to expand UPI’s acceptance worldwide and establish a truly interconnected global payment network. Our collaboration with QNB is a crucial step in achieving this goal,” stated Ritesh Shukla, MD and CEO of NPCI International, a proud subsidiary of NPCI.
Shukla further emphasized that this development will empower millions of Indian travelers to conduct secure, digital transactions effortlessly, reducing their reliance on traditional cash payments while abroad.
Echoing this sentiment, Yousef Mahmoud Al-Neama, Group Chief Business Officer at QNB, remarked, “This achievement not only makes things incredibly convenient for Indian visitors but also delivers considerable advantages to the Qatari market. By encouraging cashless transactions, stimulating our retail and tourism industries, and reinforcing the interoperability of our payment systems, we are paving the way for a more advanced financial ecosystem.” He added that this will particularly benefit local businesses by attracting more customers and providing them with smooth, modern digital payment options.