Namibia is set to become the first African country to adopt India’s Unified Payments Interface (UPI) for real-time digital payments. The agreement was finalized during Prime Minister Narendra Modi’s official visit to Namibia—his first in 27 years. This marks the final stop of PM Modi’s five-nation tour, which included Brazil (for BRICS Summit in Rio de Janeiro).
Key Developments
| Particulars | Details |
| Agreement Signed Between | NPCI International Payments Ltd. (NIPL) and Bank of Namibia |
| Date of Licensing Agreement | April 2024 |
| Expected Rollout | September 2025 |
| Significance | Namibia becomes the first African country to license UPI technology |
About Unified Payments Interface (UPI)
| Attribute | Details |
| Launched By | National Payments Corporation of India (NPCI) |
| Launch Year | 2016 |
| Features | Merges multiple bank accounts into one mobile app, enables real-time fund transfers, merchant payments, and seamless routing. |
| June 2025 Stats | 13+ billion transactions worth ₹20.45 lakh crore were processed. |
| UPI in Other Countries | UPI-based international merchant payments are already accepted in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka and United Arab Emirates (UAE) |
| RBI Roadmap | The Reserve Bank of India’s Annual Report 2023–24 has outlined a roadmap to expand UPI to 20 countries by 2028–29. |
Significance
- Enhances India’s digital public infrastructure (DPI) diplomacy.
- Promotes the internationalization of UPI, positioning it as a global standard for real-time payments.
- Aids in financial inclusion and cross-border trade facilitation between India and Africa.