India, Ghana working to link UPI & Ghana’s GHIPSS

New Delhi: India and Ghana are working to link their payment systems - Unified Payments Interface (UPI) and Ghana Interbank Payment and Settlement Systems (GHIPSS) respectively to permit users to make instant, low-cost fund transfers on a reciprocal basis.

The two countries have also delved into discussions regarding the possibilities of a Memorandum of Understanding on Digital transformation Solutions; Local Currency Settlement System and the opportunities offered by African Continental Free Trade Agreement (AfCFTA).

“They agreed to work expeditiously towards the operationalisation of NPCI’s (National Payments Corporation of India) UPI on Ghana’s GHIPSS within a period of 6 months,” the Department of Commerce said on the social media platform X (formerly twitter).

India’s UPI has already reached countries including Singapore and the UAE.

Talks are also on with Nigeria for the same.