Mauritius becomes the first country outside Asia to adopt the RuPay Technology
This marks a new era in the local banking sector. A collaborative effort between the Bank Of Mauritius (BOM), the National Payments Corporation of India (NPCI), and the Reserve Bank of India (RBI), this double implementation facilitated by the SBI Mauritius Ltd (SBIML), gives a new boost to financial connectivity and digital transactions between the two nations.
Thus, SBI Mauritius customers can use their RuPay card on any SBI ATM in India without any charge, and Vice Versa for the SBI India customers on SBIML ATM in Mauritius. With 14 branches in Mauritius and one in Rodrigues Island, Somnath Adhya, MD & CEO of the SBIML says “ The BOM wants to promote RuPay as their domestic card.
To evolve the Rupay card, the acceptability needs to be increased for which the issuance and acceptance should be across banks in Mauritius. Since it is a domestic product backed by the BOM, in comparison with other existing cards, the charges will be very competitive and will ultimately benefit the banks, merchants, and the customer”.
He sheds more light on the advantages to both Mauritian and Indian users in this encounter with Javed Sobah.
