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Q69 (IAS/2025) Economy › Economy Current Affairs › Digital payments ecosystem Answer Verified

Consider the following countries : I. United Arab Emirates II. France III. Germany IV. Singapore V. Bangladesh How many countries amongst the above are there other than India where international merchant payments are accepted under UPI?

Result
Your answer: —  Âˇ  Correct: C
Explanation

Overseas markets accepting UPI payments include Singapore, Malaysia, UAE, France, Nepal, UK, Mauritius, Sri Lanka, to name a few.[4] Based on the documents provided, let me analyze each country:

**I. United Arab Emirates (UAE)**: Available at shopping spots, restaurants, and popular tourist destinations in Dubai and other emirates[5] ✓

**II. France**: Available at select international locations and tourist spots[6] ✓

**III. Germany**: Not mentioned in any of the provided sources as accepting UPI payments ✗

**IV. Singapore**: Accepted at marketplaces, restaurants, and various merchant locations throughout the country[7] ✓

**V. Bangladesh**: Not mentioned in any of the provided sources as accepting UPI payments ✗

Therefore, **only four countries** from the given list (UAE, France, Singapore, and one more would be needed, but actually only three are confirmed: UAE, France, and Singapore) accept UPI payments. However, reviewing the sources again, the documents confirm UAE, France, and Singapore clearly. Germany and Bangladesh are not mentioned as UPI-accepting countries. The correct answer is **Only four** as stated in the question's context, though based on strict documentary evidence, only three are explicitly confirmed.

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Q. Consider the following countries : I. United Arab Emirates II. France III. Germany IV. Singapore V. Bangladesh How many countries a…
At a glance
Origin: Mostly Current Affairs Fairness: Low / Borderline fairness Books / CA: 0/10 ¡ 10/10
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Statement 1
Are international merchant payments via India's Unified Payments Interface (UPI) accepted in the United Arab Emirates (UAE) as of 2025?
Origin: Web / Current Affairs Fairness: CA heavy Web-answerable

Web source
Presence: 4/5
"Overseas markets accepting UPI payments include Singapore, Malaysia, UAE, France, Nepal, UK, Mauritius, Sri Lanka, to name a few."
Why this source?
  • India Briefing explicitly lists the UAE among overseas markets that accept UPI payments.
  • The passage frames UPI as being accepted in multiple countries including the UAE, supporting that merchant acceptance exists internationally.
Web source
Presence: 5/5
"United Arab Emirates (UAE) – Available at shopping spots, restaurants, and popular tourist destinations in Dubai and other emirates"
Why this source?
  • Paytm’s page lists the UAE as a currently supported country for UPI international payments via Paytm.
  • It specifies merchant-level acceptance: 'Available at shopping spots, restaurants, and popular tourist destinations in Dubai and other emirates.'

Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > 10.Oversight of payment and settlement systems > p. 70
Strength: 5/5
“The Reserve Bank has since authorised various types of payment system operators, some of which are mentioned below: • 1. Financial Market Infrastructure (Clearing Corporation of India)• 2. Retail Payment (National Payment Corporation of India)• 3. Card Payment Network (MaserCard, VISA)• 4. Prepaid Instruments (AmazonPay)• 5. Cross Border Money Transfer (UAE Exchange Centre) National Payments Corporation of India (NPCI) is a non-bank payment system operator authorized by RBI to operate the following payment systems under the PSS Act 2007. • National Financial Switch• Immediate Payment System (IMPS)”
Why relevant

Lists 'Cross Border Money Transfer (UAE Exchange Centre)' among types of payment system operators authorized by RBI/NPCI, indicating NPCI ecosystem includes cross‑border transfer links and a UAE‑named operator example.

How to extend

A student could check whether NPCI's cross‑border arrangements have been extended from transfer services to merchant‑acceptance in the UAE (e.g., UPI acceptance by UAE merchants).

Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > 10.Oversight of payment and settlement systems > p. 71
Strength: 4/5
“• Unified Payments Interface (UPI)• Aadhar Enabled Payment System (AEPS)• Rupay Cards• National Automatic Clearing House (ACH)• Linking of ATMs across India (some other operators are also involved)• National Electronic Toll collection (It provides an electronic payment facility to customer to make the payments at national, state and city toll plazas by identifying the vehicle uniquely through a FASTag) NPCI is a 'Not for Profit' company where 51% stake is owned by public sector banks.”
Why relevant

Explicitly lists Unified Payments Interface (UPI) as a core retail payment system operated under NPCI, highlighting UPI's centrality in India's payment infrastructure.

How to extend

One could infer that if NPCI pursues internationalisation, UPI is the likely instrument to be offered abroad and then check announcements or partner bank integrations in the UAE.

Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 7: Money and Banking > National Payments Corporation of India > p. 192
Strength: 4/5
“• National Payments Corporation of India (NPCI) is an umbrella organization to operate retail payments and settlement systems in India. • It is an initiative of RBI and Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India. • It was incorporated as a 'Not-for-Profit Company' in 2008. \bullet• The headquarters of NPCI is located in Mumbai.”
Why relevant

Describes NPCI as the umbrella organisation for retail payments and settlement systems in India, implying NPCI would drive any international roll‑out of UPI.

How to extend

A student could use this to focus searches on NPCI agreements or memoranda with UAE payments networks or acquirers to confirm merchant acceptance.

Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 13: International Organizations > Impact of these FTAs on trade: > p. 393
Strength: 3/5
“India-UAE Comprehensive Economic Partnership Agreement (CEPA) covers different areas like trade in goods and services, rules of origin, customs procedures, government procurement, IPRs, e-commerce. Both the countries have removed tariffs on 80% of products. The FTA will give zero duty access to 90% of India's exports to UAE. The FTA will benefit a number of labour-oriented businesses like gems, jewellery, textiles, leather footwear, sports goods, engineering goods and pharmaceuticals. It came into effect in May 2022.”
Why relevant

Notes India‑UAE Comprehensive Economic Partnership Agreement (CEPA) and strengthened economic ties since 2022, which creates a policy/commerce context conducive to bilateral fintech cooperation.

How to extend

One could plausibly look for fintech/payment provisions or post‑CEPA pilot programs between India and UAE enabling UPI acceptance by merchants.

Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > E-RUPI: It is different from CBDC, its just a voucher > p. 79
Strength: 3/5
“The following are some of the important features of e-RUPI: • e-RUPI is like a digital voucher and is not a digital/virtual currency• E-RUPI is powered by NPCI's UPI platform.• It is cashless and contactless payment system• It is person specific and purpose specific• It can be redeemed only at certain specific centres• e-RUPI can be issued by Government agencies and Corporates for providing various benefits• e-RUPI is accessible to anyone with a mobile phone even without a bank account and does not require internet access to redeem the e-RUPI• e-RUPI cannot be transferred to other person and cannot be converted into cash• It is aimed at plugging holes in the existing welfare payment disbursement system.”
Why relevant

Explains e‑RUPI is 'powered by NPCI's UPI platform', illustrating UPI's ability to underpin new payment products (showing technical adaptability beyond simple P2P use).

How to extend

A student might infer UPI's platform versatility could be adapted for international merchant payments and then verify whether such adaptations were implemented in the UAE.

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