India and Ghana Accelerate Unified Payment Interface Integration for Seamless Cross-Border Payments

Source: WeAreTech.Africa

By streamlining cross-border payments and reducing reliance on third-party currencies, initiatives like these promote financial inclusion and stability. Moreover, they pave the way for greater investment, innovation, and collaboration in key sectors, ultimately driving sustainable development across the continent. 

India and Ghana have decided to fast-track the linkage of India’s Unified Payment Interface (UPI) with Ghana’s Interbank Payment and Settlement Systems (GHIPSS). This will facilitate real-time fund transfers between users in both nations within a six-month timeframe. The decision was made during a Joint Trade Committee (JTC) meeting held in Accra from May 2-3. 

This step is a part of India’s broader strategy to globalize its UPI system, which has already made its mark in countries such as France, the UAE, Sri Lanka, and Mauritius.