National Payments Corp of India (NCPI) has signed an agreement with China’s UnionPay International to allow Chinese customers to use ATMs and PoS terminals in India.
Under the agreement, China UnionPay’s cards will be accepted at all the ATMs and point of sale terminals in India through NPCI’s network.
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The agreement has received approval from the Reserve Bank of India (RBI), according to Reuters.
NPCI CEO A.P. Hota said both the parties have signed a memorandum of understanding, but are still working out the details of the relationship.
"There are about 2 million Chinese tourists who visit India each year. NPCI has a network of 1.1 million PoS terminals and 195,000 ATMs in India, which can be used by customers from China," Reuters quoted Hota as saying.
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