**India Expands Unified Payments Interface (UPI) to Lulu Group Stores in Qatar**
*Doha:* India has expanded the reach of the Unified Payments Interface (UPI) by launching the payment facility at Lulu Group stores in Qatar. This follows its rollout last month at duty-free outlets in Hamad International Airport, Doha.
Commerce and Industry Minister Piyush Goyal inaugurated the facility at a Lulu store, highlighting that the move will facilitate smoother and more cost-effective movement of capital between India and Qatar.
Last month, NPCI International Payments Ltd (NIPL), in partnership with Qatar National Bank (QNB), introduced UPI at point-of-sale terminals across Qatar for merchants acquired by QNB. This rollout is part of a collaboration between NIPL, QNB, and Japanese payments gateway NETSTARS.
Minister Goyal encouraged other banks and institutions in Qatar to adopt UPI, emphasizing its potential beyond just a digital payment solution. He said, “The launch of UPI and UPI transactions is not just a digital payment solution, but has the potential to revolutionise trade between Qatar and India. It’s an opportunity to expand our trust between the two nations because as we seamlessly integrate the payment systems of Qatar and India, our people will be able to trade more, trade smarter at lower cost.”
He added that the movement of money and capital would be faster, almost on a real-time basis, and at a “very-very low” cost. “Expanded trade will further be strengthened with the adoption of UPI… I thank QNB for taking up UPI as part of their payment systems,” he said, noting that the official launch marks a significant milestone in this ongoing journey.
The launch will also benefit the approximately 830,000 Indians residing in Qatar, making their remittances faster and less expensive. With this development, Qatar becomes the eighth country to accept UPI, allowing real-time, cashless payments for Indians and reducing dependency on foreign currency or international cards.
By enabling seamless transactions, UPI supports both Indian travellers and local Qatari businesses, promoting digital payment adoption. This initiative strengthens India’s international financial footprint while enhancing convenience and security for tourists in busy commercial areas.
Minister Goyal further shared insights on UPI’s success story, noting that the system was launched nine years ago in India. “Eighty-five per cent of Indian digital payments go through UPI and nearly 50 per cent of global digital payments are now made by UPI,” he said, adding that an average of 640 million transactions occur daily.
He praised QNB for acting as the bridge between NPCI, the developer of the UPI platform, and Lulu Group, which now offers digital payment via UPI to all its customers.
*Disclaimer: This story is sourced from a syndicated feed. No changes have been made except to the headline.*
https://www.freepressjournal.in/business/india-launches-upi-in-qatar-facilitating-cost-effective-seamless-trade-supporting-indian-travelers-qatari-businesses