Indian ex-pats can soon have a reason to celebrate as Oman might allow them to use RuPay and UPI. Yes, you heard it right! The massive Indian diaspora in the nation would profit from the debut of Oman’s RuPay card and the UPI platform, an indigenous electronic payment system used in India.
An Agreement To Strengthen The Digital Finances And Payments In Oman
An agreement for cooperation in digital finance and payments for the use of RuPay and UPI will be inked between the National Payments Corporation of India (NPCI) and the Central Bank of Oman (CBO). The agreement will be signed during the visit of the Minister of State for Foreign Affairs V. Muraleedharan.
On October 3 and 4, Muraleedharan will be in Oman on a formal visit. In addition to meeting Foreign Minister Sayyid Badr Bin Hamad Bin Hamood Albusaidi, he will also attend community gatherings during his second visit to the Sultanate.
The monument of Mahatma Gandhi will also be unveiled during the visit by the MoS to the Indian Embassy in Muscat. The ICCR commissioned a life-size bronze monument of Gandhi Ji, which will be a first for Oman.
Indian expatriates may soon have something to cheer as they may be able to use @RuPay_npci card and UPI Platform in Oman.https://t.co/KhRkn4CFzQ
— Times of Oman (@timesofoman) October 2, 2022
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RuPay Will Soon Get Introduced In UAE, Bahrain And Saudi Arabia
In west Asia, the UAE, Bahrain and Saudi Arabia are in the process of using RuPay cards. During PM Modi’s visit to the UAE in August 2019, RuPay was first introduced in the Gulf. Like Visa or Mastercard, RuPay is an Indian payment gateway gradually introduced to nations that are either close neighbours to India or have a sizable Indian diaspora. In May 2018, it was introduced in Singapore, Bhutan, and the Maldives.
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Oman is crucial to supporting Indian naval operations in the Persian Gulf and the western Indian Ocean. The debut of the RuPay card and UPI payment will benefit the residents. In the comments section below, let us know your thoughts on this new partnership.
Cover Image Courtesy: Unsplash