π UPI aims global takeover via Indian diaspora
NPCI, the operator of UPI, plans to use the vast Indian diaspora as a gateway for global expansion into international payments. This strategy aims to replicate UPI's domestic success across borders, targeting 15-20 markets over the next ten years. Currently, the diaspora sent over $155 billion in remittances in the fiscal year ending March. The expansion builds upon UPI's existing presence in nine countries, including Singapore and the UAE. NPCI is also exploring AI integration for payments via platforms like ChatGPT. π