Prime Minister Narendra Modi capped his Israel trip with a transformative agreement on Thursday, bringing India’s UPI to Israeli shores. The cross-border integration with local payment networks will deliver faster, low-cost digital transactions, strengthening financial corridors between the nations.
‘Great to see UPI enabled in Israel,’ PM Modi remarked post-signing. This will empower businesses with efficient borderless payments, minimizing expenses and delays. UPI’s domestic triumph—commanding 57% of India’s payments versus cash’s 38%—stems from its user-friendly instant transfer features, as per a Finance Ministry analysis. Over 65% of users transact multiple times daily.
The summit yielded more: a new alliance on critical technologies spanning AI, quantum tech, and key minerals. Leaders pledged to expand civil nuclear and space endeavors, innovate agriculture for tomorrow, and craft model rural communities.
Now live in over eight nations—UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, Qatar—UPI exemplifies a public model’s superiority in promoting broad access over closed networks. As India-Israel ties evolve, this UPI rollout not only enhances trade fluidity but also positions both countries as leaders in the global fintech revolution, promising economic prosperity through technological synergy.