India's UPI Set to Launch in Malaysia, Boosting Cross-Border Payments

• India's UPI may soon be available in Malaysia following the launch of the Malaysia-India Digital Council (MLDC) and the NPCI–PayNet payment link.
• The initiative aims to simplify cross-border payments for businesses and travelers, strengthening digital and financial cooperation.
• This move is part of broader efforts to deepen economic, defense, and people-to-people engagement under the Comprehensive Strategic Partnership.
• Linking UPI with Malaysia’s Payments Network will reduce transaction costs, enhance interoperability, and allow trade settlements in Rupees and Ringgit.
• Experts believe the UPI-Malaysia connection will benefit MSMEs, tourists, professionals, and businesses by providing fast, low-cost digital payments.