India's Unified Payments Interface (UPI) could become operational in Uzbekistan in about a year, according to Sibi George, Secretary (West) at India's Ministry of External Affairs, following talks between the leaders of the two nations.

He stated that a network agreement was recently signed between NPCI International Payments Limited (NIPL), the international arm of India's National Payments Corporation, and Uzbekistan's HUMO payment system. The deal is expected to enable UPI payments across the country through the UzQR national QR network.

The agreement was signed after obtaining approvals from the Reserve Bank of India (RBI) and the Central Bank of Uzbekistan. The Central Bank of Uzbekistan has designated HUMO as an authorized partner for NIPL to accept cross-border payments at points of sale.

The Indian side called the agreement a "significant first step" toward enhancing interoperability between the two countries' payment systems.

"Once the agreement is implemented in about a year, Indian tourists visiting Uzbekistan will be able to use UPI-supported applications," George said.

Earlier, President Shavkat Mirziyoyev and Indian Prime Minister Narendra Modi discussed digital infrastructure and UPI during the Indian leader's official visit to Tashkent.

India's foreign ministry also announced that both sides intend to improve connectivity between banking and payment systems, reduce trade barriers, and create more efficient regional supply chains.

India views the launch of UPI in Uzbekistan as part of its efforts to expand its digital payment infrastructure internationally. The parties also agreed to continue cooperation in artificial intelligence, cybersecurity, and digital technologies.

Source: www.gazeta.uz