The largest financial institution in the Middle East and Africa, QNB, with its headquarters in Qatar, and NPCI International Payments Ltd (NIPL), the international arm of the National Payments Corporation of India (NPCI), signed an agreement on Thursday to introduce Unified Payments Interface (UPI) payments based on QR codes throughout the Gulf nation.
UPI Payments Open Up for Indians in Qatar: 10 Key Points To Know
- QNB and NIPL Agreement: QNB, the largest financial institution in the Middle East and Africa, based in Qatar, signed an agreement with NPCI International Payments Ltd (NIPL) to introduce UPI payments via QR codes across Qatar.
- Benefit to Indian Tourists: The initiative aims to enable the acceptance of UPI payments through QNB’s merchant network, benefiting Indian tourists traveling through or visiting Qatar.
- Anubhav Sharma’s Statement: Anubhav Sharma from NPCI International highlighted the significant benefits of UPI acceptance in Qatar for Indian visitors, simplifying their transactions and enhancing their travel experience.
- Indian Tourism to Sri Lanka: In the first half of 2024, approximately 200,000 Indian tourists visited Sri Lanka, with India being the top source market accounting for 18% of all visitors to Sri Lanka.
- Usage of UPI in Qatar: Indian travelers in Qatar will be able to use UPI payments at various establishments including merchants, duty-free shops, leisure centers, hotels, and tourist attractions.
- Adel Ali Al-Malki’s Statement: Adel Ali Al-Malki, Senior Executive VP of QNB Group Retail Banking, emphasized that the acceptance of UPI payments will revolutionize transaction processes, improving the overall travel experience.
- Benefit to Merchants: Merchants in Qatar are set to benefit from a faster and more convenient checkout process by adopting UPI payments.
- Strategic Partnership: The partnership between QNB and NIPL reflects Qatar’s commitment to enhancing its payment infrastructure and catering to the needs of its growing number of Indian visitors.
- Global Digital Payment Trends: The introduction of UPI payments in Qatar aligns with global trends towards digital payment solutions, offering easier financial transactions for Indian travelers abroad.
- Advancement in Financial Services: This initiative marks a significant advancement in Qatar’s financial services sector, aiming to provide seamless and efficient payment solutions to enhance visitor satisfaction and convenience.
This will help Indian tourists coming and passing through Qatar by enabling the acceptance of UPI payments via the QNB merchant network.
Anubhav Sharma, Deputy Chief – Partnerships and Business Development, NPCI International, stated in a statement, “We believe that enabling UPI acceptance in Qatar will offer substantial benefits to the large number of Indians visiting the country, simplifying their transactions and ensuring a hassle-free travel experience abroad.”
In the first half of 2024, about two lakh Indian visitors go to Sri Lanka. With around 200,000 Indian visitors to Sri Lanka so far this year, India remains the top source market. With 198,161 Indian tourists visiting Sri Lanka between January and July 7, 2024, the spike in Indian travelers has been a major factor in the rise in tourist arrivals. Currently, eighteen percent of all visitors to Sri Lanka are from India.
Also Read: Why Qatar Is the Perfect Layover Spot for Indian Tourists?
Through this arrangement, Indian travelers will have the choice to pay at merchants, duty-free shops, leisure centers, hotels, and tourist attractions using their chosen method.
Adel Ali Al-Malki, Senior Executive VP, QNB Group Retail Banking, stated, “With this new digital payment solution acceptance, we are revolutionizing the way transactions are conducted, enhancing the travel experience like never before.”
Merchants in Qatar will be able to provide a quicker and more comfortable checkout procedure by using UPI payments.
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