AG Newsletter - Q4 Edition 2023

India and UAE signed a strategic partnership agreement between NPCI International Payments Limited (NIPL) part of NPCI with Al Etihad Payments (AEP), an indirect part of CBUAE (Central Bank of UAE) to promote the UAE’s Domestic Card scheme (DCS). The NIPL and AEP planned to set up, execute, and functionalize UAE’s DCS to boost inclusive finance, e-commerce, and digital transactions supporting digitization, different payment options, minimizing payment costs, and playing an instrumental role in the digital payment world. The DCS solution is based on a secure RuPay framework and VAS services for fraud surveillance and analysis. NIPL will guide AEP in developing operational guidelines for DCS backed up with India’s DPI (Digital Public Infrastructure) encompassing digital payments/identity/data exchange. The technological cooperation between the two countries promises a revolution in UAE’s payment infrastructure with NIPL’s aim to share its expertise and knowledge.