India's UPI Set to Launch in Cyprus Next Year

India's Unified Payments Interface (UPI) is scheduled to launch in Cyprus next year, marking a significant expansion of India's digital payment system. This initiative follows a recent agreement between NPCI International Payments Limited and Eurobank Cyprus, aimed at facilitating cross-border transactions. The announcement was made during a press conference by Sibi George, Secretary of the Ministry of External Affairs, coinciding with Cyprus President Nikos Christodoulides' visit to India. The discussions between the two leaders also covered various sectors, including trade and defense. With UPI already operational in several countries, this launch will further ease transactions for tourists and businesses in Cyprus, strengthening the fintech collaboration between the two nations.

By Narendra Chaudhary May 22, 2026, 20:18 IST

Introduction of UPI in Cyprus

The Unified Payments Interface (UPI), India's indigenous instant online payment system, is set to commence operations in Cyprus starting next year. This announcement was made by Sibi George, Secretary (West) of the Ministry of External Affairs (MEA), during a press conference held on the occasion of Cyprus President Nikos Christodoulides' visit to India. George stated, "One of the significant outcomes of our discussions is that UPI will be operational in Cyprus from next year..." This initiative follows a Memorandum of Understanding (MoU) signed between NPCI International Payments Limited and Eurobank Cyprus, aimed at facilitating cross-border transactions using India's real-time payment system. The agreement was finalized during Prime Minister Narendra Modi's official visit to Cyprus on June 15-16, 2025, marking the first visit by an Indian Prime Minister in over twenty years.

Bilateral Discussions Between India and Cyprus

PM Modi Discusses Various Sectors with Cyprus President

During their meeting in New Delhi, PM Modi and President Christodoulides engaged in extensive discussions aimed at strengthening collaboration in various sectors, including trade, investment, defense, maritime security, financial connectivity, technology, education, culture, and India-EU relations. The leaders also participated in a business roundtable in Limassol on June 15, followed by delegation-level talks the next day, reinforcing the robust partnership between India and Cyprus.

UPI's Expanding Global Presence

France First European Nation to Adopt UPI

The upcoming launch in Cyprus is part of UPI's expanding global reach. France was the first European nation to adopt UPI, with transactions commencing at the Eiffel Tower in February 2024.

UPI Operational in Multiple Countries

Currently, UPI is functional in several countries, including the UAE, Singapore, Sri Lanka, Mauritius, Nepal, Bhutan, and Oman. The UAE has implemented UPI acceptance across major merchant networks, while Singapore integrated UPI with PayNow in 2023 for cross-border remittances. Additionally, NPCI International Payments Limited has signed MoUs with Peru, Namibia, and Trinidad & Tobago to assist in developing similar real-time payment systems.

Significance of the Visit

Secretary Sibi George emphasized the importance of this visit, coinciding with Cyprus's presidency of the Council of the European Union. He noted that Cyprus has established a trade office in Mumbai and has consistently supported India in combating cross-border terrorism. President Christodoulides also paid tribute to the victims of the 26/11 terrorist attacks at the Taj Palace Hotel in Mumbai.

Other significant outcomes from the visit include a strategic MoU between NSE International Exchange and the Cyprus Stock Exchange for cross and dual listings, as well as an MoU to create a Chair of Indian Studies at the University of Nicosia. Both nations have agreed to develop a comprehensive Joint Action Plan for 2025-29 to steer their bilateral relations.

With UPI's launch in Cyprus on the horizon, India's digital payments landscape is poised to make further inroads into Europe, facilitating transactions for tourists, students, and businesses while enhancing fintech collaboration between the two nations.