India’s Unified Payments Interface (UPI) will soon be linked with Bahrain’s Fawri+ service, enabling instant, seamless cross-border money transfers. This collaboration aims to boost financial inclusion, lower remittance costs, and enhance convenience for the Indian diaspora in Bahrain, strengthening economic and digital payment ties between the two nations.
NPCI International Payments Limited (NIPL), the international arm of India’s National Payments Corporation, has partnered with BENEFIT, Bahrain’s leading fintech firm, to develop a real-time cross-border remittance corridor connecting India’s UPI and Bahrain’s Electronic Fund Transfer System Fawri+. This integration will allow users in both countries to send and receive money instantly and securely, bypassing slower traditional channels.
The initiative, guided by the Reserve Bank of India and the Central Bank of Bahrain, significantly enhances digital connectivity and financial inclusion. It offers faster, cheaper, and transparent money transfers, benefitting Bahrain’s large Indian community, which accounts for nearly 30% of the population.
This move is part of a broader NPCI strategy to globalize UPI by linking with multiple countries such as Singapore, France, Sri Lanka, and the UAE, extending the reach of India’s digital payment ecosystem internationally.
The partnership is expected to facilitate trade and people-to-people connectivity while fostering economic cooperation and digital innovation between India and Bahrain.
Key Highlights:
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India’s UPI linked with Bahrain’s Fawri+ system for instant cross-border payments.
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Enables real-time, secure, and low-cost remittances beneficial for Indian diaspora.
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Supervised by RBI and the Central Bank of Bahrain for regulated interoperability.
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Part of NPCI’s global expansion to make UPI a worldwide digital payment standard.
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Strengthens economic ties and financial inclusion between India and Bahrain.
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Upcoming frictionless digital corridor simplifies payments for businesses and individuals.
Sources: Economic Times, Newsonair, Outlook Money, CNBC TV18