Maldives To Soon Launch India's RuPay Services To "Bolster Maldivian Rufiyaa"

RuPay, a product of the National Payments Corporation of India (NPCI), is the first of its global card payment network in India, with wide acceptance at ATMs, POS devices, and e-commerce websites across India.

Notwithstanding the turbulence in their bilateral ties, the Maldives will soon launch India's RuPay service, which a senior minister has said "will bolster the Maldivian Rufiyaa." RuPay, a product of the National Payments Corporation of India (NPCI), is the first of its global card payment network in India, with wide acceptance at ATMs, POS devices, and e-commerce websites across India.

Minister of Economic Development and Trade Mohamed Saeed while announcing how both India and China have agreed to use local currency in bilateral trade, spoke about the upcoming launch of India's RuPay.

"The upcoming launch of India's RuPay service is anticipated to further bolster the Maldivian rufiyaa (MVR)," Saeed told state-run PSM News on Wednesday. He also emphasised that "addressing the dollar issue and reinforcing the MVR is a top priority for the current administration.