RBI and NIPL link UPI with ECB’s TIPS for Europe
pre-market1 source ↓written by the desknot a recommendation
The Reserve Bank of India (RBI) and NPCI International Payments Ltd (NIPL) are advancing UPI's global reach by linking it with the European Central Bank’s TARGET Instant Payment Settlement (TIPS) system. This initiative aims to facilitate real-time cross-border payments between India and the Euro Area, aligning with G20 objectives to enhance payment efficiency.
The integration phase will focus on technical aspects and risk controls before launch, building on previous efforts to establish UPI in Europe.
Not investment advice. For informational purposes only.