SBI Mauritius Ltd (SBIML) has taken a significant step towards enhancing the digital payment landscape in Mauritius with the introduction of RuPay Card and Unified Payments Interface (UPI) services. This initiative, in collaboration with the Bank of Mauritius (BOM) aims to revolutionize the way transactions are conducted in the country.
RuPay Card, India’s homegrown global card network, is now available for SBIML customers in Mauritius. SBIML offers customers access to a wide network of ATMs and point-of-sale (POS) terminals across India and Mauritius by leveraging the MaUCAS platform (Mauritius Central Automated Switch), a collaborative effort between BOM, NIPL, RBI, and the Government of India. This move is expected to increase the competition in card service providers in Mauritius and ultimately benefit customers, merchants and the banks involved.
With the introduction of UPI services in Mauritius, Indian visitors to Mauritius will be able to make payments to local merchants using their Indian UPI mobile apps, such as NPCI BHIM UPI, by scanning the merchant’s UPI QR code. This development, spearheaded by SBI India, demonstrates the seamless integration of digital payment ecosystems across borders.
Similarly, Mauritian visitors to India will have the convenience of making payments to Indian merchants using their Mauritian bank mobile apps. SBIML has developed the scan-and-pay UPI QR code functionality, the most widely used payment method in India, in its YONO MU mobile app, enabling Mauritian customers to transact effortlessly in India.
The implementation of RuPay Card and UPI services in Mauritius is poised to ease cross- border transactions and enhance the overall payment experience for customers. With the support of initiatives like RuPay Card and UPI, individuals and businesses in Mauritius and India can look forward to a future where cashless transactions are the norm, driving economic growth and fostering closer ties between the two nations.
The launch of RuPay Card and UPI services by SBIML in Mauritius represents a significant leap towards a cashless society, benefiting customers, merchants, and banks.
State Bank of India (SBI) has a rich heritage of over 200 years, is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. SBI is among the top 50 banks in the world with a Balance Sheet size of over US$ 635 billion (INR 41 trillion), over 277,000 employees and 500 million customers. SBI has presence outside India with 229 offices in 36 foreign countries.
SBI (Mauritius) Ltd presently have 14 branches, (including Global Business Branch) in major cities/towns of the country including one at Rodrigues Island.
