Commonwealth Secretary General welcomes India’s offer to share UPI tech

Commonwealth Secretary General Patricia Scotland has welcomed India’s offer to share its path-breaking Unified Payments Interface (UPI) technology with other members of the Commonwealth of Nations, hailing the move as potentially transformational.

UPI is an instant real-time payment system which facilitates inter-bank peer-to-peer (P2P) transactions.

The transaction is done through mobile in easy steps. Besides, there are no charges applicable for the UPI transaction so far.

Moreover, it has played a key role in the country making a transition to a cashless economy.