India’s UPI services to act as a catalyst for Sri Lanka tourism sector
India’s cutting-edge Unified Payment Interface (UPI) services could significantly boost Sri Lanka’s tourism earnings and reshape its industry, fostering sustainable development and reducing regional economic disparities in the future, the Sri Lanka Tourism Development Authority (SLTDA) said.
India’s Prime Minister Narendra Modi, Sri Lanka’s President Ranil Wickremesinghe, and Mauritius Prime Minister Pravind Jugnauth jointly inaugurated the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, along with RuPay card services in Mauritius via video conferencing.
SLTDA Chairman Priantha Fernando emphasised that Sri Lanka can anticipate a significant increase in tourism earnings due to the implementation of advanced digital payment methods.
“This technological empowerment is expected to lead to increased spending during the visitor stay, thereby making a significant contribution to the local economy,” Fernando told Mirror Business.
He stressed that the dividends of this additional tourism revenue would spread across all tourist service providers and other businesses in the country in setting the industry on a sustainable development trajectory and strengthening the regional economies such as North and Eastern Provinces.
“In essence, the introduction of UPI and RuPay is not only technological advancements the realm of digital payments but also signifies new and innovative concepts that have potential to redefine the overall landscape of the tourist industry within Sri Lanka. I envisage massive growth in tourism within the Northern and Eastern Provinces in the years ahead,” he elaborated.
To use UPI payments in Mauritius and Sri Lanka, Indian tourists are required to register their bank account with a UPI-enabled mobile application. Once the bank account is linked, users are prompted to provide recipient information such as their bank account number, IBAN, and BIC, along with specifying the transfer amount and currency.
“This forward looking approach aligns with the preferences of tech-savvy tourists, driving overall industry development,” said Fernando.
