India's UPI to launch in Cyprus

India>>>'s Unified Payments Interface (UPI) is set to become operational in Cyprus>>> next year, following an MoU signed between National Payments Corporation of India — National Payments Corporation of India>>> and Eurobank Cyprus>>>. This agreement was a key outcome of Prime Minister Narendra Modi>>>'s official visit to Cyprus>>> in June 2025, the first such visit in over two decades. During the visit, Narendra Modi>>> and President Nikos Christodoulides>>> held extensive discussions on enhancing cooperation in trade, investment, defence, maritime security, financial connectivity, technology, education, and cultural exchanges. The move expands UPI's growing international footprint, which already includes France>>>, United Arab Emirates>>>, Singapore>>>, Sri Lanka>>>, Mauritius>>>, Nepal>>>, Bhutan>>>, and Oman>>>. National Payments Corporation of India — National Payments Corporation of India>>> has also signed MoUs with Peru>>>, Namibia>>>, and Trinidad and Tobago>>> to develop similar real-time payment systems. Other outcomes of the visit include Cyprus>>>'s announcement to open a trade office in Mumbai, a strategic MoU between NSE International Exchange>>> and the Cyprus Stock Exchange>>> for cross and dual listings, and an MoU to establish a Chair of Indian Studies at the University of Nicosia>>>. Both nations agreed to a Joint Action Plan for 2025-29 to guide bilateral relations, further deepening fintech collaboration and easing transactions for tourists, students, and businesses.