Trinidad & Tobago's Ministry Partners with India's NPCI to Develop UPI-based Payments Platform

Sep 27, 2024, 05:38 AM

India has signed an agreement with the Ministry of Digital Transformation (MDT) of Trinidad and Tobago to develop a real-time payments platform similar to India's Unified Payments Interface (UPI). This collaboration makes Trinidad and Tobago the first in the region to adopt digital public infrastructure through a partnership with an Indian company. The platform aims to modernize the country's economic ecosystem, bringing it closer to becoming a cashless society. The National Payments Corporation of India (NPCI) will assist in developing the system, leveraging India's expertise in fintech and technological diplomacy. The new system may utilize features like the Aadhaar (Digital ID) PIN and is expected to shape the future of fintech in Trinidad and Tobago by providing efficient and secure digital payment solutions.