NPCI International Payments Limited signs an agreement with Ministry of Digital Transformation (MDT) of Trinidad and Tobago to help build digital payment system Trinidad and Tobago is the first Caribbean country to adopt India’s digital payment system UPI The Caribbean country aims to develop a real-time payments platform for P2P and P2M transactions National Payments Corporation of India’s (NPCI) overseas arm NIPL has partnered with Trinidad and Tobago’s Ministry of Digital Transformation (MDT) to develop a real time payments platform akin to Unified Payments Interface (UPI). This makes Trinidad and Tobago the first Caribbean nation to adopt UPI. With this move, the Caribbean nation looks to develop a reliable real-time payments platform for both person-to-person (P2P) and person-to-merchant (P2M) transactions.
“Trinidad and Tobago is taking significant steps towards advancing its financial infrastructure, and we are proud to support them in building a secure, sovereign and scalable payments platform. Our experience with UPI in India has demonstrated how real-time payments can transform economies by improving access to essential financial services and reducing reliance on cash,” said Ritesh Shukla, CEO, NPCI International. “Fashioned on India’s UPI, the digital payment platform will facilitate innovation in the fintech sector, enhance the technical resiliency of the current payment infrastructure by providing a complementary, non-competing digital payments plat.
