Jay Shambaugh, the Under Secretary of the US Treasury for International Affairs, highlighted India’s Unified Payments Interface (UPI) system as a leader in advancing bilateral connections with other countries, including Singapore and the United Arab Emirates. He discussed the role of new technologies and cross-border payments in upgrading legacy payment systems, emphasizing India’s achievements in fostering bilateral links with its UPI system. The UPI system’s progress aligns with the G20 Payments Roadmap’s priority action areas, focusing on payment system interoperability and extension to enhance payment system connectivity and operational alignment.
India’s UPI System Forges Bilateral Links with Singapore and UAE, Says US Treasury Official
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