New Delhi, May 22 (IANS) India’s Unified Payments Interface (UPI) will become operational in Cyprus from next year, marking another major expansion of the country’s digital payments ecosystem in Europe, according to the Ministry of External Affairs (MEA) on Friday.

Addressing a media briefing, Sibi George said the rollout of UPI in Cyprus was one of the key outcomes of discussions held during Prime Minister Narendra Modi’s official visit to the Mediterranean nation in June 2025.

The launch follows the signing of a memorandum of understanding between NPCI International Payments Limited and Eurobank Cyprus to facilitate cross-border payments using India’s real-time payment platform.

Prime Minister Modi visited Cyprus on June 15-16, 2025, becoming the first Indian Prime Minister to travel to the country in over two decades.

During the visit, PM Modi and Cyprus President Nikos Christodoulides held extensive discussions on strengthening bilateral cooperation across trade, investment, maritime security, defence, financial connectivity, technology, education and cultural exchanges.

The two leaders also participated in a business roundtable in Limassol and held delegation-level talks aimed at deepening India-Cyprus strategic ties.

According to the MEA, both countries agreed to work towards a comprehensive Joint Action Plan for 2025-29 to guide future bilateral cooperation.

The expansion into Cyprus adds to UPI’s growing global presence. France became the first European country to adopt UPI, with services launched at the Eiffel Tower in February 2024.

Countries including United Arab Emirates, Singapore, Sri Lanka, Mauritius, Nepal, Bhutan and Oman have also enabled UPI-based transactions or collaborations.

NIPL has additionally signed agreements with Peru, Namibia and Trinidad and Tobago to help build UPI-like digital payment systems in those countries.

Sibi George said the Cyprus visit held additional significance as it coincided with Cyprus’s presidency of the Council of the European Union.

He also noted that Cyprus announced plans to open a trade office in Mumbai and reiterated its support for India’s fight against cross-border terrorism.

–IANS

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