India’s NPCI International signs PayXpert as UK’s first acquirer for UPI and RuPay
Mumbai, 18th August 2022: NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of National Payments Corporation of India (NPCI), the organisation behind the world’s largest real-time payment solution, the Unified Payments Interface (UPI) and the RuPay card Scheme, has today signed an MoU confirming a partnership with the payments solutions provider PayXpert to internationalise the acceptance of its payment solutions in the UK.
This collaboration will make the Indian payment solutions available in the UK on all PayXpert’s android point-of-sale (POS) devices for in-store payments, starting with UPI-based QR code payments and later integrating the possibility for RuPay card payments.
UPI is amongst the most successful real-time payments (RTP) systems globally, providing – simplicity, safety, and security in person to person (P2P) and person to merchant (P2M) transactions in India. UPI has achieved a volume of US$ 940Bn (39Bn transactions) in 2021, which is equivalent to 31% of India’s GDP. RuPay is the first-of-its-kind Global Card payment network from India with over 700 million cards issued to date.
Every year over half-a-million Indians travel to the UK including over one hundred thousand students. Over the next few years, this number is expected to grow exponentially. This partnership will provide Indian travellers with a familiar and convenient way to make payments in the UK. The UPI and RuPay payment options are set to benefit both consumers and retailers across the UK while providing a welcome boost to commerce across the retail, hospitality, and tourism sectors.
Commenting on the partnership, David Armstrong, Managing Director, PayXpert in the UK said, “The UPI and the RuPay payment schemes are great names to add to PayXpert’s portfolio of international payment options available on our POS devices. It will open up a new field of opportunity for us in the UK and further strengthen the capability of our solution for UK merchants.”
Adding to this Anubhav Sharma, Head International Business – Partnership, Business Development & Marketing, NPCI International said, “We are excited to announce that we have partnered with PayXpert as our very first acquirer for UPI in the UK. With this development, Indians travelling to the UK will be able to enjoy the benefits of UPI’s payments platform through PayXpert’s POS devices. This collaboration is an important milestone for us and we plan on augmenting the facility of RuPay cardpayments in the near future.”
About PayXpert
A pioneer in the payment industry since 2009, PayXpert currently has 25+ payment methods, processes in 100+ different currencies, and supports more than 650+ clients in the UK, France, Spain, and Taiwan. In addition, PayXpert is a direct member of the payment schemes Discover, UnionPay, WeChat Pay and Alipay.
PayXpert, the global payments company built for large and small businesses, focuses on providing the best payment experience to buyers and sellers alike.
For more information on PayXpert, visit www.payxpert.com
About NIPL
NPCI International Payments Limited (NIPL) was incorporated on April 3, 2020, as a wholly-owned subsidiary of National Payments Corporation of India (NPCI). As the international arm of NPCI, NIPL is devoted to the deployment of NPCI’s indigenous, successful Real-Time Payment System – Unified Payments Interface (UPI) and Card Scheme – RuPay, outside of India. NPCI has successfully developed and proved its product and technological capabilities in the domestic market by transforming the payment segment in India. Conversely, there are several countries that want to establish a ‘real-time payment system’ or ‘domestic card scheme’ in their own country.
NIPL, with its knowledge and experience, can offer these countries technological assistance through licensing, consulting for building a real-time payment system to meet the rapidly evolving need of fast-growing global businesses. NIPL is focused on transforming payments across the globe with the use of technology and innovation. It will not only enable payment for Indians but also uplift other countries by enhancing their payment capabilities through technological assistance, consulting, and infrastructure.
For more information, visit: https://www.npci.org.in/
Media Contact for NPCI:
Shruti Singh
9654497747
Adfactors PR
Banali Banerjee/Pragya Sahay
9769610385/7982347652
banali.banerjee@adfactorspr.com/pragya.sahay@adfactorspr.com
Media Contact for PayXpert UK:
Lindsey Williams
+33 (0)6 31 46 46 18
lindseywilliams@storiesout.com