NPCI International Teams up with PPRO to Facilitate Global E-commerce Payments
- ByStartupStory | April 27, 2023
NPCI International Payments Limited, a wholly-owned subsidiary of National Payments Corporation of India (NPCI), has joined forces with PPRO, a digital payments infrastructure provider, to broaden the acceptance of RuPay card and UPI among PPRO’s worldwide customers, including payment service providers (PSPs) and global merchant acquirers. This move is aimed at expanding the reach of these payment methods, according to a statement released by the companies.
The partnership between NPCI International Payments Limited and PPRO is expected to provide global payment service providers (PSPs), banks, payment gateways, and enterprises with the means to expand globally and give international ecommerce merchants access to Indian consumers by enabling the acceptance of RuPay card and UPI. The move will also allow consumers to make cross-border purchases in Indian rupees using any payment method, according to a statement released by the companies.
Simon Black, the CEO of PPRO, stated that the integration of UPI into PPRO’s digital payments infrastructure through a single connection has eliminated all operational complexities for their partners to sell cross-border into India on a large scale. NPCI International Payments Limited, established in 2020, deploys NPCI’s real-time payment system, the unified payments interface (UPI), and the domestic card scheme, RuPay, outside of India, as per the companies’ statement.
According to the statement, UPI was launched in 2016 and currently boasts over 325 million active users, providing complete interoperability for 390 banks and 100 third-party apps. It processes 60% of all domestic payments in India and 40% of instant payments processed worldwide, making it a significant player in the global payments landscape. The platform processed over 8.7 billion transactions in March 2023, marking the highest volume of transactions since its inception.
PPRO is a fintech firm that offers digital payment infrastructure to businesses and banks, allowing them to expand their checkout, acquiring, and risk services through a single connection. PPRO’s services are trusted by notable companies such as Citi, PayPal, and Stripe, who rely on the platform to hasten their development timelines, improve conversions, and simplify digital payment procedures.
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