Prime Minister Narendra Modi launched three digital payment schemes, including the international debut of Bharat Interface for Money (BHIM) and RuPay in Singapore as well as the State Bank of India's online international Rupee remittance app. The launch marks the collaboration of National Payments Corporation of India (NPCI) and Network for Electronic Transfers (NETS) of Singapore in launching a cross-border digital payment system between the two nations.
"RuPay, BHIM and UPI; it is natural for these to be launched in Singapore. Together, we can build a great economic partnership of the new age," Modi said.
The launch of RuPay, BHIM App and UPI by SBI, Singapore is a momentous occasion. India is building a strong partnership with Singapore in the digital world.
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