Why is RuPay card stuck in Singapore and UAE in Sri Lanka? There is a small problem.

RuPay Service: India is continuously trying to take its RuPay Card and UPI services to the whole world. Currently RuPay card services are launched in Nepal, Bhutan, Singapore and United Arab Emirates (UAE). But, there is a problem in launching this service in Sri Lanka. India wants domestic tourists to easily pay in these neighboring countries without any hassle. But the Indian and Sri Lankan banks have not been able to reach a mutual agreement regarding payment of transaction fees. Due to this, the rupee card service in Sri Lanka is stuck.

UPI service launched in Sri Lanka.

Indian government is making all efforts to promote digital payments. It is trying to make RuPay card available to Sri Lankans visiting India. India has already launched UPI service in neighboring Sri Lanka. Due to this, Indian tourists can easily make UPI transactions even in Sri Lanka. According to government officials, currently RuPay technology is not in use by NIPL (NPCI International Payments Ltd) for Sri Lanka. But, the Central Banks of both the sides are in talks to make purchases and ATM withdrawals available in Sri Lanka with the help of Rupee Card.

A solution will be found soon.

However, due to lack of consensus on bank transaction charges with Sri Lanka, the matter has stalled. It will be resolved soon. After Bhutan and Mauritius, Sri Lanka will soon become the third country to allow UPI and RuPay transactions. Currently, the Finance Department, NPCI and Sri Lanka have not clarified on the issue.

75 crore worth of cards have been issued.

The Rupee Card was launched under the Financial Services and Payments Network. It is an alternative to India’s international card payment providers. It also aims to reduce the use of cash in the country. According to the RuPay website, around 1100 public, private and cooperative banks issue this card. Major banks like SBI and PNB are its promoters. So far around Rs 75 crore cards have been issued.

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