NPCI International Payments Ltd. (NIPL), the international arm of the National Payments Corporation of India (NPCI), has signed an agreement with the Bank of Namibia (BoN) to support the institution in developing an instant payment system like the Unified Payment Interface (UPI) for Namibia.
“This collaboration marks a strategic leap towards strengthening Namibia’s financial infrastructure and fostering inclusive economic growth. By leveraging technology and experiences from India’s UPI, the partnership seeks to help Namibia modernise its financial ecosystem,” the NIPL said in a statement. “This includes improving accessibility, affordability, connectivity with both domestic and international payment networks, and interoperability,” it added.
Ritesh Shukla, CEO, NPCI International, said, “By enabling this technology, the country will gain sovereignty in the digital payments landscape and stand to benefit from enhanced payment interoperability and improved financial access for underserved populations.”
