In an effort to bolster its currency and enhance financial connectivity, the Maldives is gearing up to introduce India’s RuPay service. Mohamed Saeed, the Minister of Economic Development and Trade, hinted at this development in a recent statement to PSM News.
The imminent arrival of RuPay, a product of the National Payments Corporation of India (NPCI), is poised to fortify the Maldivian Rufiyaa, although an official launch date remains undisclosed.
Established in 2008, NPCI serves as the backbone for retail payments and settlement systems across India, revolutionizing the country’s financial landscape. Through a suite of innovative products like RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), and others, NPCI has significantly transformed the payment ecosystem in India.
