SERI KEMBANGAN, Feb 8 \u2014 India\u2019s Unified Payments Interface (UPI) will be introduced in Malaysia soon, said Indian Prime Minister Narendra Modi.<\/p>\n
However, he did not provide further details on the timeline or implementation.<\/p>\n
UPI is a real-time digital payments system that enables instant peer-to-peer and person-to-merchant transactions directly between bank accounts using mobile phones.<\/p>\n
Payments can be made through a Virtual Payment Address (VPA), QR codes or mobile numbers, without the need to share bank account details, and are secured through two-factor authentication.<\/p>\n
As of 2025, UPI is the world\u2019s largest retail fast-payment system by volume, handling more than 640 million transactions daily and surpassing global platforms such as Visa.<\/p>\n
Modi said India has built the world\u2019s largest digital public infrastructure and financial technology (fintech) ecosystem.<\/p>\n
\u201cNearly half of the world\u2019s real-time digital transactions happen in India, thanks to our UPI platform,\u201d he said at a community reception here yesterday.<\/p>\n
Meanwhile, Modi said the \u201cguiding wall\u201d of India\u2013Malaysia relations is IMPACT, which stands for the India\u2013Malaysia Partnership for Advancing Collective Transformation.<\/p>\n
\u201cImpact on the speed of our relations. Impact on the scale of our ambitions. Impact for the benefit of our people. Together, we can benefit the entire humanity,\u201d he said.<\/p>\n
On economic ties, Modi noted that Indian companies have long been keen to work with Malaysian partners and have contributed to key sectors, including healthcare and technology.<\/p>\n
\u201cIt is a privilege that we played a part in creating Malaysia\u2019s first and Asia\u2019s largest insulin manufacturing facility,\u201d he said.<\/p>\n
He was referring to the integrated insulin manufacturing and research-and-development plant established by Biocon Sdn Bhd, a subsidiary of Biocon Ltd, located in Iskandar Puteri, Johor.<\/p>\n
According to Modi, more than 100 Indian information technology companies are currently operating in the country, generating thousands of jobs.<\/p>\n
He also pointed to growing digital collaboration, citing the Malaysia\u2013India Digital Council as a platform opening new pathways for cooperation in the digital economy.<\/p>\n
In addition, he highlighted that total trade between Malaysia and India reached RM79.49 billion (US$18.59 billion) in 2025, with Malaysia\u2019s exports to India amounting to RM52.30 billion (US$12.24 billion) and imports standing at RM27.19 billion (US$6.35 billion).<\/p>\n
Modi is on an official visit to Malaysia from Feb 7 to 8, 2026, at the invitation of Prime Minister Datuk Seri Anwar Ibrahim, reciprocating Anwar\u2019s official visit to India in August 2024. \u2014 Bernama<\/p>\n","protected":false},"excerpt":{"rendered":"SERI KEMBANGAN, Feb 8 \u2014 India\u2019s Unified Payments Interface (UPI) will be introduced in Malaysia soon, said Indian…\n","protected":false},"author":2,"featured_media":415441,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[153688,153687,153689,2306,3720,153686,86,56,9905,54,55],"class_list":{"0":"post-415440","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-biocon-sdn-bhd","9":"tag-india-malaysia-relations","10":"tag-malaysia-india-digital-council","11":"tag-mobile","12":"tag-narendra-modi","13":"tag-seri-kembangan","14":"tag-technology","15":"tag-uk","16":"tag-unified-payments-interface","17":"tag-united-kingdom","18":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/415440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=415440"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/415440\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/415441"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=415440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=415440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=415440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}