The government has decided to introduce the Unified Payments Interface (UPI) instant mobile payment system used in India in this country as well.
Foreign Minister Ali Sabri says that the related agreement will be signed tomorrow (12).
The foreign minister, who was on an official visit to Australia with the president, said this while speaking to the Indian media called WION in Perth.
While questioning the Foreign Minister regarding the use of Indian rupees, he was giving comments to the journalist that the Indian Prime Minister Mr. Narendra Modi and the Sri Lankan President Mr. Ranil Wickramasinghe will officially introduce the relevant system tomorrow (12) through the online system.
The Minister of Foreign Affairs further stated that this system will be implemented in Sri Lanka and this will lead to rapid growth of tourism in Sri Lanka.
Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application. This enables consolidation of multiple bank accounts, seamless access to funds online and bringing merchant payments into one place.
The Indian Unified Payments Process known as UPI was introduced in 2016 by the National Payments Corporation of India as an instant payment system.
This payment system facilitates mobile, inter-bank and person-to-person transactions.