PM Modi, Sri Lankan President and PM of Mauritius will witness the launch of Unified Payment Interface (UPI) in Sri Lanka and Mauritius, as well as RuPay card services in Mauritius.
With the mutual adoption of RuPay and Mir cards Indian and Russian people would be able to make hassle-free payments in their respective nations in Indian rupees and Russian rubles.
Indonesia is not the first country to consider phasing out foreign payment systems. In recent years, countries like China and Russia have taken steps to develop their own payment systems and reduce their reliance on Visa and Mastercard.