New Delhi. NPCI International Payments Limited (NIPL) and the Reserve Bank of Peru have partnered to implement a UPI-like transaction system. Let us tell you that NIPL is a wholly owned subsidiary of the National Payments Corporation of India.

First South American country to adopt UPI

This collaboration marks an important milestone, making Peru the first country in South America to adopt the Unified Payment Interface (UPI) system, NIPL said in a statement.

“NIPL and the Central Reserve Bank of Peru (BCRP) have announced a partnership to enable real-time payment systems like UPI in Peru,” an official statement said.

This strategic partnership enables BCRP to establish an efficient payment platform within the country and facilitate instant payments between individuals and business sectors.

Ritesh Shukla, Chief Executive Officer (CEO) of NPCI International, said that the aim of this partnership is to strengthen the financial infrastructure of Peru and promote economic growth.