NIPL, QNB Signs Pact to Launch QR code-based UPI Payments across Qatar

Current Context: NPCI International Payments Limited (NIPL) and QNB, the largest financial institution in the Middle East and Africa, have joined forces to introduce QR code-based UPI payments across Qatar on 11th July 2024.

• Key Points:
• UPI Expansion: This partnership marks a significant step in expanding the reach of India's successful UPI system to the international market.
• Benefits for Indian Travelers: The primary beneficiaries of this initiative are Indian travelers visiting or transiting through Qatar. They can now conveniently make payments using UPI at various QNB merchant outlets.
• Merchant Network: QNB's extensive merchant network will enable widespread UPI acceptance across the country.
• Payment Convenience: QR code-based UPI payments offer a secure, fast, and convenient way for Indian travelers to transact in Qatar.

Question:

1 What is the primary purpose of the partnership between NPCI International Payments Limited (NIPL) and QNB?

• A) To introduce QR code-based UPI payments across Qatar
• B) To launch a new credit card in Qatar
• C) To provide financial assistance to Qatari merchants
• D) To establish a new banking institution in Qatar

Answer: A) NPCI International Payments Limited (NIPL) and QNB, the largest financial institution in the Middle East and Africa, have joined forces to introduce QR code-based UPI payments across Qatar on 11th July 2024.