By leveraging technology and experiences from India’s UPI, the partnership seeks to help Namibia modernise its financial ecosystem.
This includes improving accessibility, affordability, connectivity with both domestic and international payment networks, and interoperability, NPCI said in a statement.
This partnership aims to enhance digital financial services and support real-time Person-to-Person (P2P) and Merchant payment transactions (P2M) in the African nation.
Johannes !Gawaxab, Governor of the Bank of Namibia, said, “Our objective is to enhance accessibility and affordability for underserved populations, achieve full interoperability of payment instruments by 2025, modernise the financial sector, and ensure a secure and efficient National Payment System.”
Speaking on partnership, Ritesh Shukla, CEO, NPCI International said, “By enabling this technology, the country will gain sovereignty in the digital payments landscape and stand to benefit from enhanced payment interoperability and improved financial access for underserved populations.”
Once live, the platform will facilitate digital transactions in Namibia.
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