The partnership aims to help Namibia modernize its financial ecosystem by leveraging India's UPI technology and experience. This includes improved accessibility, affordability, connectivity and interoperability with both domestic and international payment networks.
“By enabling this technology, the country will gain sovereignty in the digital payments landscape and benefit from enhanced payments interoperability and improved financial access for underserved populations,” Ritesh Shukla, CEO of NPCI International, said in a statement.
Further, NPCI said that this collaboration aims to improve digital financial services and support real-time person-to-person (P2P) and merchant payment transactions (P2M) in the country.
This partnership will also allow BON to access best-in-class technology and insights from NIPL, making it possible to build a common platform across Namibia for the digital well-being of its citizens.
Johannes Gwaxb said, "This effort, in line with the Bank's strategic plan and the NPS Vision One Strategy 2025, deliberately employs a central bank-led approach to reduce infrastructure costs for financial institutions, thereby ultimately “Ensuring stability and affordability of instant payment solutions for users.” , Governor of the Bank of Namibia.
Once operational, the platform will enable digital transactions in Namibia, thereby promoting financial inclusion and reducing dependence on cash by meeting the needs of disadvantaged populations.
“By enabling this technology, the country will gain sovereignty in the digital payments landscape and benefit from enhanced payments interoperability and improved financial access for underserved populations,” Ritesh Shukla, CEO of NPCI International, said in a statement.
Further, NPCI said that this collaboration aims to improve digital financial services and support real-time person-to-person (P2P) and merchant payment transactions (P2M) in the country.
This partnership will also allow BON to access best-in-class technology and insights from NIPL, making it possible to build a common platform across Namibia for the digital well-being of its citizens.
Johannes Gwaxb said, "This effort, in line with the Bank's strategic plan and the NPS Vision One Strategy 2025, deliberately employs a central bank-led approach to reduce infrastructure costs for financial institutions, thereby ultimately “Ensuring stability and affordability of instant payment solutions for users.” , Governor of the Bank of Namibia.
Once operational, the platform will enable digital transactions in Namibia, thereby promoting financial inclusion and reducing dependence on cash by meeting the needs of disadvantaged populations.
