NPCI International Payments Ltd (NIPL) and the Reserve Bank of Peru have announced a partnership to enable UPI-like real-time payments system in the Latin American country.
This collaboration marks a significant milestone, making Peru the first country in South America to adopt the globally renowned Unified Payment Interface (UPI) technology, NIPL said in a statement.
"NPCI International Payments Limited and the Central Reserve Bank of Peru (BCRP) have announced a partnership to enable the deployment of a UPI-like real-time payments system in Peru," it said.
This strategic partnership empowers the BCRP to establish an efficient real-time payments platform within the country and facilitates instant payments between individuals and businesses.
NPCI International CEO Ritesh Shukla said this partnership aims to strengthen Peru's financial infrastructure, to foster economic growth. NIPL is a wholly owned subsidiary of the National Payments Corporation of India.