Indian PM Narendra Modi unveiled three Indian mobile payment apps BHIM, RuPay and SBI on Friday at a business event in Singapore targeted at internationalization of digital payment stage.
“Touching lives of common people through innovation! PM @narendramodi launched three technologies – RuPay, Bhim App and UPI enabled remittance app by State Bank of India, Singapore,” MEA spokesperson Raveesh Kumar wrote on Twitter.
RuPay app was connected with country’s Network for Electronic Transfers (NETS). With this app, the customers will be allowed to do payments at all NETS acceptance points’ crossways Singapore. Also, possessors of Singapore NETS will be permitted to do online buy on NPCI website.
On the other hand, PM Narendra Modi launched SBI app so as to increase payment offerings and rupee allowance to India via United Payments Interface (UPI).
“This is a major step towards the internationalisation of India’s digital payment platform,” SBI country head in Singapore, Soma Sankara Prasad Stated.
With Virtual Payment Address (VPA), payment of up to Rs 100,000 will be done fast, trouble-free and easily. Every saving account possessor of SBI Singapore will be able to get this facility easily.
Modi began his tour on Thursday by exploring the exhibitions centre in Singapore which was put up in cooperation with Indian and Singaporean firms.