ANS:A - Peru

NPCI International and the Central Bank of Brazil are partnering to introduce Unified Payments Interface (UPI) payments in South America. This collaboration marks a significant step in expanding the reach of India’s digital payment system to the South American region. UPI, developed by the National Payments Corporation of India (NPCI), is a highly successful and widely adopted payment system in India, known for its ease of use and efficiency in facilitating real-time transactions. The partnership aims to integrate UPI with Brazil’s payment infrastructure, enabling seamless and interoperable digital payments between the two countries. This initiative not only fosters cross-border financial inclusion but also enhances economic connectivity and trade opportunities. By leveraging UPI’s robust technology and Brazil’s growing digital payment ecosystem, the partnership seeks to introduce a state-of-the-art payment solution to Brazilian consumers and businesses, contributing to the modernization of payment systems in South America. This move is also expected to set a precedent for further international expansion of UPI, showcasing its potential as a global digital payment solution.