UPI Launched at Lulu Stores in Qatar
Why in the news
UPI widened its overseas reach, starting at Lulu Group stores after airport duty-free outlets in Qatar adopted it a month earlier.
Key facts
- Implementer: NPCI International Payments Ltd (NIPL), with Qatar National Bank and Japan’s NETSTARS.
- Purpose: real-time, cheap payments for residents and tourists; closer India–Qatar financial links; cheaper remittances.
About UPI
Started in 2016 by NPCI; moves money instantly between bank accounts using QR codes or phone numbers.
Exam angle
- Qatar: 8th UPI country.
- Rollout arm: NIPL.