India is expanding its financial technology footprint by collaborating with African nations to build a robust digital payments ecosystem modeled on its highly successful Unified Payments Interface (UPI) system. The initiative, led by the National Payments Corporation of India (NPCI), aims to bolster financial inclusion in emerging economies by 2027, targeting both Africa and South America as key regions for the rollout.

This expansion is part of a broader vision to replicate India’s UPI success, which handles billions of transactions monthly. By leveraging its digital public infrastructure expertise, India seeks to empower developing nations with real-time payment systems and financial inclusion tools, especially in rural and underserved areas. Nations such as Namibia, Rwanda, and Kenya have shown interest, with talks progressing at various stages.

According to Ritesh Shukla, CEO of NPCI International Payments Ltd (NIPL), the goal is not only to establish sovereign payment systems but also to link them with India’s UPI network. This effort could help address some of the financial challenges faced by African economies, promoting fintech growth and supporting remittance flows, which are crucial for many households in these regions.

The project aligns with India’s geopolitical and economic strategy, using its G20 presidency to push for greater adoption of digital public infrastructure globally. This initiative is a significant milestone in fostering South-South cooperation, as India positions itself as a leader in digital innovation on the global stage.

With Africa’s young, growing population and increasing mobile phone penetration, the continent presents an ideal environment for the UPI system to thrive, potentially unlocking new opportunities for digital commerce and financial services across borders.