Correct Answer : TerraPay
In a strategic move to further strengthen its cross-border payment solutions, TerraPay, a leading global payments infrastructure group 22nd Sep 2022 announced its partnership with NPCI International Payments Limited (NIPL), the International arm of National Payments Corporation of India (NPCI).
This association with NIPL will allow Indian customers and merchants in India with an active Unified Payments Interface Id (UPI Id) to make and accept cross-border payments seamlessly by leveraging TerraPay's agile infrastructure and the UPI network.
The UPI-enabled QR code-based service will allow Indian customers with active UPI IDs to make transactions through 350 million bank accounts across the globe.
The firms seek to expand the use of UPI payments and QR for international transactions by merchants.
The customer-initiative UPI payments and QR transactions require two-factor authentication.
The two-factor authentication is capable of minimizing disputes and issues related to grievance redressal.
TerraPay also expects to create interoperability among different financial instruments it drives as well as offer digital payments.
UPI which is
real-time payments (RTP) system developed by the
National Payments Corporation of India.
Source : Yahoo
