•UPI Launch: The Maldives President Mohamed Muizzu has officially introduced India’s Unified Payments Interface (UPI) to enhance its digital payment system.
•Leading agency: TradeNet Maldives Corporation Limited has been appointed as its leading agency.
•Objective: The initiative aims to facilitate seamless financial transactions and promote cashless payments in the Maldives.
•Benefits for Tourists: Indian tourists can now use UPI for transactions, making payments easier while visiting the Maldives.
•Technical Support: The UPI integration is expected to improve financial infrastructure in the Maldives, leveraging India’s expertise in digital payments.
•Strengthening Ties: This move is seen as a step towards strengthening economic and diplomatic ties between India and the Maldives.