(Bloomberg) --
Alphabet Inc.'s Google Pay will work with India's mobile-based payments system that generates billions of transaction every month to expand the services beyond the South Asian nation.
Google India Digital Services Pvt. and National Payments Corporation of India, the company behind India's Unified Payments Interface, signed an accord to broaden the services beyond India, according to a statement Wednesday. The collaboration aims at making international payments convenient for travelers from India. It will also assist in establishing UPI-like digital payment systems in other countries.
“This is in alignment with NPCI's endeavor of bolstering India's position in the global digital payment landscape,” the company said, adding that the accord will also contribute to simplifying remittances by cutting dependence on conventional money transfer channels.
Prime Minister Narendra Modi's government has been vocal on its ambitions to take UPI global. India and Singapore linked their systems last year to enable real-time money transfers. There were also tie ups explored with countries including Sri Lanka and United Arab Emirates.
The UPI platform saw 17.4 trillion rupees ($209 billion) of transactions in November, according to latest data from India's central bank.
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