Question

Which company signed an MoU with NPCI International Payments Ltd (NIPL) to expand UPI's impact internationally, in January 2024?

• A. Microsoft India
• B. Google India Digital Services (P) Limited
• C. Amazon India
• D. PayPal India

Answer 1

Answer:

B. Google India Digital Services (P) Limited

Google India Digital Services (P) Limited (Google Pay India) signed a Memorandum of Understanding (MoU) with NPCI International Payments Ltd (NIPL) to expand the reach of the Unified Payments Interface (UPI) internationally. The MoU has three key objectives. First, it seeks to broaden the use of UPI payments for travelers outside of India, enabling them to conveniently make transactions abroad. Second, the MoU intends to assist in establishing UPI-like digital payment systems in other countries, providing a model for seamless financial transactions. Lastly, it focuses on easing the process of remittances between countries by utilizing the UPI infrastructure, thereby simplifying cross-border financial exchanges.