Source: BS
Context:
NTT Data has signed a Memorandum of Understanding (MoU) with NPCI International Payments Ltd (NIPL) to facilitate the acceptance of Unified Payments Interface (UPI) transactions in Japan. This initiative targets Indian tourists visiting Japan, aiming to make payments seamless and convenient.
Key Highlights:
- Objective: Enable Indian tourists in Japan to make payments using UPI, enhancing their shopping and payment experience.
- Benefits for Japanese Merchants: Access to a growing segment of Indian tourists and potential increase in transaction volumes.
- Collaborative Effort: NTT Data and NIPL will jointly explore opportunities to expand UPI acceptance in Japan, evaluating merchant networks, regulatory compliance, and technical enablement.
- Strategic Significance: The move aligns with globalizing UPI, India’s flagship digital payment system, and strengthens cross-border payment infrastructure.
