NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has entered into a strategic partnership agreement for Domestic Card Scheme (DCS) Implementation. With which country has this agreement been signed? 

Solution

   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. 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 DCS solution is based on the principles of sovereignty, speed to market, innovation, digitization, and strategic independence. The DCS solution provided by NIPL consists of a RuPay stack and value-added services like fraud monitoring services and analytics. NIPL will also assist AEP in formulating the operating regulations for their domestic card scheme.