UPI Goes Live In Qatar; Payments System Launched At Lulu Stores

India expanded the global footprint of the Unified Payments Interface on Monday by launching the service at Lulu Group's retail outlets in Qatar. This follows its earlier rollout at duty-free stores in Hamad International Airport last month.

Speaking at the launch event held at a Lulu store, Commerce and Industry Minister Piyush Goyal highlighted that UPI's introduction will facilitate smoother and more cost-effective capital flow between India and Qatar.

Last month, NPCI International Payments Ltd., in collaboration with Qatar National Bank, enabled UPI at point-of-sale terminals across Qatar for merchants onboarded by QNB.

This rollout is part of a broader partnership involving NIPL, QNB, and Japanese payment gateway NETSTARS.

Goyal also encouraged other banks and financial institutions in Qatar to integrate UPI into their payment systems.

"The launch of UPI and UPI transactions is not just a digital payment solution, but has the potential to revolutionise trade between Qatar and India," Goyal said. "It's an opportunity to expand our trust between the two nations because as we seamlessly integrate the payment systems of Qatar and India, our people will be able to trade more, trade smarter at lower cost."

He noted that capital movement will now be faster and almost real-time, with very low transaction costs.

"Expanded trade will further be strengthened with the adoption of UPI," he added. "I thank QNB for taking up UPI as part of their payment systems." The official launch of UPI will be a milestone in this journey in the years ahead, he stated.

Goyal also pointed out that the 830,000 Indians residing in Qatar will greatly benefit from this launch, as remittances will become faster and more cost-effective.

Qatar is now the eighth country to accept UPI, enabling real-time, cashless transactions for Indians abroad and reducing reliance on foreign currency or international cards.

By enabling seamless payments, UPI supports both Indian tourists and Qatari merchants, promoting digital adoption and expanding India’s global financial presence, while ensuring convenience and security in high-footfall commercial areas.

Goyal further emphasised that UPI, launched nine years ago, is now a major success story in India.

"85% of Indian digital payments go through UPI and nearly 50% of global digital payments are now made by UPI," he stated, adding that the system facilitates an average of 640 million transactions daily.

He concluded by commending QNB for serving as a bridge between NPCI, the developer of the UPI platform, and the Lulu Group, which is now providing customers with UPI-based digital payment options.

(With inputs from PTI).