Al Maya Supermarkets has taken a significant step in strengthening the economic partnership between India and the UAE by introducing Unified Payments Interface (UPI) payments, providing enhanced convenience to their patrons. The inaugural UPI transaction at Al Maya Supermarket took place in the presence of Yatin Patel, the Deputy Consul General of India in Dubai.
All Al Maya supermarkets now accept UPI as a form of payment across the UAE. Honoured to have https://t.co/YHy0NaZH7p.Yatin Patel, Deputy Consul General of India to Dubai at the launch. @cgidubai @UPI_NPCI @almayaUAE @almayaUAE#UAE #India #Dubai #UPI #payment #launch pic.twitter.com/1vbFpFwtRH
— Kamal Vachani (@kvachani61) July 19, 2024
Â
Kamal Vachani, Group Director and Partner of Al Maya Group, highlighted the convenience and benefits that UPI payments bring to Indian customers. “We are thrilled to be at the forefront of this innovative payment solution in the UAE. The introduction of UPI will not only enhance the shopping experience for our customers but also strengthen the economic ties between India and the UAE,” Vachani said.
The UAE is home to a substantial Indian population, making up 37.96% of the country’s total population. With approximately 4.75 million Indian nationals residing in the UAE. Given such a large Indian demographic, the introduction of UPI is expected to significantly enhance convenience and ease of transactions for Indian visitors and residents alike.
Vachani emphasised the broader implications of this integration, stating. “The availability of UPI payment services is expected to enhance convenience and ease of transactions for Indian visitors, benefiting both nations. UPI’s success in India has led to global collaborations across several countries. And the UAE stands to benefit significantly from such integration given that it is a major destination for Indian tourists.”
UPI has revolutionised the payment landscape in India with its seamless and secure payment process. With its ability to facilitate instant transactions using a mobile phone, UPI offers a convenient and efficient method for making payments, ensuring a high level of security and control.
UPI Future Prospects
“The introduction of UPI at Al Maya Supermarkets will pave the way for more seamless and efficient transactions, benefiting not just our customers but also the broader economy,”. Vachani added with UPI’s proven track record and its growing acceptance worldwide. This step is expected to further cement the UAE’s position as a forward-thinking and tech-savvy nation.
In addition to providing a hassle-free shopping experience for Indian customers. The implementation of UPI is also a testament to the deepening economic relations between India and the UAE. The ease of transactions facilitated by UPI will likely encourage more spending. And it will contribute positively to the retail sector in the UAE.
Al Maya Group’s initiative is a prime example. And how businesses can leverage technology to enhance customer experience while also fostering international economic collaboration. The integration of UPI in UAE’s retail sector is poised to become a benchmark for other businesses to follow. It reflects the global trend towards digital and contactless payments.
As the world continues to embrace digital payment solutions. The success of UPI in the UAE could lead to further international expansions and collaborations. This move not only benefits the Indian diaspora in the UAE. But also opens up new avenues for economic growth and technological advancement for both countries.
The enablement of UPI in Al Maya Supermarkets marks a significant milestone in the UAE’s retail sector. Promising greater convenience, security, and efficiency in transactions. This development is set to enhance the shopping experience for Indian customers. Further strengthen the economic ties between India and the UAE. Showcasing a successful model of international cooperation in the realm of digital payments.