New Delhi, May 22 (IANS). India’s External Affairs Ministry said on Friday that India’s Unified Payments Interface (UPI) will be operational in Cyprus from next year. This will mark another major expansion of the country’s digital payments ecosystem in Europe.
Speaking at a media briefing, Foreign Secretary (West) Sibi George said the rollout of UPI in Cyprus was one of the key outcomes of the talks during Prime Minister Narendra Modi’s official visit to the Mediterranean country in June 2025.
The launch follows the signing of an MoU between NPCI International Payments Limited and Eurobank Cyprus to facilitate cross-border payments using India’s real-time payments platform.
Prime Minister Modi visited Cyprus on 15-16 June 2025 and became the first Indian Prime Minister to visit the country in more than two decades.
During the visit, PM Modi and Cyprus President Nicos Christodoulides held detailed talks on strengthening bilateral cooperation in trade, investment, maritime security, defence, financial connectivity, technology, education and cultural exchange.
The two leaders also participated in a business roundtable in the city of Limassol and held delegation level talks aimed at deepening India-Cyprus strategic relations.
According to the Ministry of External Affairs, the two countries agreed to work on a comprehensive joint action plan for 2025-29 to guide future bilateral cooperation.
The expansion into Cyprus further enhances UPI’s growing global presence. France became the first European country to adopt UPI, with the service being launched at the Eiffel Tower in February 2024.
Countries like UAE, Singapore, Sri Lanka, Mauritius, Nepal, Bhutan and Oman have also started UPI-based transactions or collaboration.
NIPL has also signed agreements with Peru, Namibia and Trinidad and Tobago to help build digital payment systems like UPI in those countries.
Sibi George said the Cyprus visit has even greater significance as it coincides with Cyprus’ presidency of the European Union Council. He also informed that Cyprus plans to open a trade office in Mumbai and reiterated its support to India’s fight against cross-border terrorism.
–IANS
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