Cross-border payments boost: India, EU begin phase to link UPI with TIPS; remittances to get cheaper
Cross-border payments boost: India, EU begin phase to link UPI with TIPS; remittances to get cheaper
India's UPI is set to connect with Europe's instant payment system, TIPS, a significant step towards cheaper and faster cross-border remittances. This collaboration between RBI and the European Central Bank aims to create a direct digital payment channel between India and the Euro Area, enhancing accessibility and transparency as per G20 goals. Technical integration is the next crucial phase.
India's UPI is set to connect with Europe's instant payment system, TIPS, a significant step towards cheaper and faster cross-border remittances. This collaboration between RBI and the European Central Bank aims to create a direct digital payment channel between India and the Euro Area, enhancing accessibility and transparency as per G20 goals. Technical integration is the next crucial phase.
India's UPI is set to connect with Europe's instant payment system, TIPS, a significant step towards cheaper and faster cross-border remittances. This collaboration between RBI and the European Central Bank aims to create a direct digital payment channel between India and the Euro Area, enhancing accessibility and transparency as per G20 goals. Technical integration is the next crucial phase. 
