India to support Namibia in developing digital payment system

According to the source, the two organisations have signed an agreement to this effect, which envisages collaboration in building a platform based on the Unified Payment Interface (UPI) introduced by India at the national level, with strong security elements.

This collaboration marks a strategic leap in strengthening Namibia's financial infrastructure and promoting inclusive economic growth.

The co-operation aims to expand digital financial services and strengthen real-time payment transactions for merchants and citizens of the African country. This is reported by Prensa Latina, a partner of TV BRICS.

It also ensures the advancement of future technological developments and market requirements.

Through this co-operation, Namibia will have access to the best technology and expertise of the Indian company, which will create a similar platform in Namibia for the digital wellbeing of its citizens.

In addition, he said, several countries have indicated their desire to set up a real-time payment system or a national card system similar to India's.

Sri Lanka, Mauritius, the United Arab Emirates and Singapore, have collaborated or intend to collaborate with India on payments and other emerging solutions.

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