NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has entered into a strategic partnership agreement with Al Etihad Payments (AEP) for Domestic Card Scheme (DCS) Implementation in UAE. AEP is an indirect subsidiary of the Central Bank of UAE (CBUAE). As per the agreement, NIPL and AEP will work together to build, implement, and operationalize UAE’s national domestic card scheme.
The DCS will aim to facilitate the growth of e-commerce and digital transactions in the UAE, bolster financial inclusion, support the UAE’s digitization agenda, increase alternate payment options, reduce the cost of payments, and enhance the UAE’s competitiveness and position as a global payments leader. The partnership aligns perfectly with NIPL’s mission to offer its knowledge and expertise to assist other countries in establishing their own cost-efficient, and secure payment systems.