India’s Unified Payments Interface (UPI) is set to be operational in Cyprus starting next year, as announced by the Ministry of External Affairs. This move signifies a significant expansion of India’s digital payments network in Europe. The decision to introduce UPI in Cyprus emerged from discussions held during Prime Minister Narendra Modi’s official visit to the country in June 2025.
The implementation of UPI in Cyprus follows the signing of a memorandum of understanding between NPCI International Payments Limited and Eurobank Cyprus. This collaboration aims to facilitate cross-border payments using India’s real-time payment platform, enhancing financial connectivity between the two nations.
During Prime Minister Modi’s visit to Cyprus on June 15-16, 2025, he engaged in extensive talks with Cyprus President Nikos Christodoulides to bolster bilateral cooperation. Discussions encompassed various sectors including trade, investment, maritime security, defense, technology, education, and cultural exchanges, highlighting the commitment to strengthening India-Cyprus relations.
The visit also saw the announcement of a comprehensive Joint Action Plan for 2025-29 between both countries to guide future bilateral cooperation. This strategic move underscores the mutual commitment to enhancing collaboration across various domains for the benefit of both nations.
The expansion of UPI into Cyprus is part of its increasing global footprint, following its adoption in France as the first European country to embrace the platform. Additionally, countries like the United Arab Emirates, Singapore, Sri Lanka, Mauritius, Nepal, Bhutan, and Oman have already incorporated UPI-based transactions or partnerships, showcasing the platform’s growing international presence.
