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Informist, Monday, Nov. 10, 2025

 

NEW DELHI – NPCI International Payments Ltd., the international subsidiary of National Payments Corp. of India, has signed a deal with Bahrain-based BENEFIT to enable real-time cross-border remittances between the two countries. The linkage will connect India's Unified Payments Interface with Bahrain's Electronic Fund Transfer System, specifically, Fawri+ service, allowing users in both countries to send and receive money instantly and securely. BENEFIT is Bahrain's leading fintech and electronic financial transactions company.

 

The collaboration, established under the guidance of the Reserve Bank of India and the Central Bank of Bahrain, represents a key step in advancing cross-border payment connectivity between the two nations, NPCI International Payments said in a press release Monday. It will enable residents to experience faster, more efficient, and cost-effective remittances, reflecting the shared vision to enhance digital financial inclusion and modernise cross-border transaction frameworks, it added.

 

Commenting on the development, Ritesh Shukla, managing director and chief executive officer of NPCI International Payments, said that the company believes this collaboration will deepen financial connectivity, pave the way for further cross-border payment innovations, and contribute to promoting financial inclusion and shared economic growth that benefit individuals and businesses alike.

 

Cross-border transactions on the Unified Payments Interface began in the financial year 2021-22 (Apr-Mar) when Singapore linked its fast payment system, PayNow. In the current fiscal till July, over 600,000 cross-border transactions have taken place using the Unified Payments Interface, with total value at INR 1.69 billion.

 

In 2024, the finance ministry had said in a report that NPCI International Payments had reached out to more than 80 countries to link the Unified Payments Interface with their own fast payment systems. NPCI has also executed agreements with more than 20 payment partners covering over 30 countries, the ministry had said. India has tied up with several countries to enable Unified Payments Interface transactions. These countries include France, the United Arab Emirates, Singapore, Bhutan, Nepal, Mauritius, Sri Lanka, Japan, and Malaysia.   End

 

Reported by Priyasmita Dutta

Edited by Nishant Maher

 

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