Transforming Payments in Namibia: UPI and the End of Cheques
Namibians get ready to experience the magic of India’s home-grown Real Time Retail Payment System. Yes, UPI is on the way to Namibia. The ball has been put in motion with the agreement between NPCI International and Bank of Namibia. The goal is roll-out a UPI like Real Time Retail Payment System in Namibia by 2025. In a groundbreaking move towards modernizing Namibia's financial landscape, the National Payments Corporation of India (NPCI) International Payments Limited (NIPL) has forged a strategic partnership with the Bank of Namibia (BoN) to deploy India’s Unified Payment Interface ( UPI ) in the African nation. This collaboration, announced on 2nd May 2024, marks a significant leap forward in bolstering Namibia’s financial infrastructure and promoting inclusive economic growth. The UPI Revolution The Unified Payment Interface ( UPI ) has been a game-changer in India's financial sector since its inception. With its seamless and instant payment capabili