2 hrs ago
Ireland Explores India’s UPI Model for European Payments
Ireland wants to learn why India’s UPI payment system has grown so quickly.
UPI helps people make digital payments more easily.
Sean McWilliams of IDA Ireland said Ireland is studying whether ideas from UPI could be useful there and elsewhere in Europe.
He made the comments during a visit to Mumbai.
His visit also focused on India’s fintech companies and ways Ireland could help them expand abroad.
McWilliams said Ireland is also making artificial intelligence a major focus.
Ireland has launched a national AI strategy to support skills, innovation and responsible rules.
It will also hold an international AI summit on October 14.
IDA Ireland’s Sean McWilliams said Ireland wants to understand the rapid growth of India’s Unified Payments Interface.
Ireland is exploring whether UPI’s digital-payments model could be relevant to Ireland, the European Union and other markets.
McWilliams visited Mumbai to study India’s fintech ecosystem and identify opportunities to support Indian companies expanding internationally.
He said Ireland’s national AI strategy emphasizes emerging technologies, talent development, innovation and responsible regulation.
Ireland will host an international AI summit on October 14 during its presidency of the European Union this year.
- Who
- Sean McWilliams, Head of Fintech & Payments at IDA Ireland, and Indian fintech stakeholders.
- What
- Ireland is studying India’s UPI system and exploring its possible relevance for Ireland, the European Union and other markets.
- Where
- The comments were made in Mumbai on the sidelines of the Global FinTech Festival.
- When
- McWilliams made the comments on Monday; Ireland’s international AI summit is scheduled for October 14.
- Why
- To understand India’s payments and fintech growth and explore cooperation, international expansion and potential applications of UPI and AI.
Key facts
- Indian payments system
- The Unified Payments Interface is described as a key part of India’s payments ecosystem.
- Irish interest
- Ireland wants to understand UPI’s rapid growth and assess its relevance for Ireland and the European Union.
- IDA Ireland representative
- Sean McWilliams is Head of Fintech & Payments at IDA Ireland.
- Visit purpose
- McWilliams visited India to examine fintech and payments trends and opportunities and support Indian companies expanding internationally.
- AI strategy
- Ireland recently launched a national AI strategy focused on emerging technologies, skills, talent, innovation and responsible regulation.
- AI summit
- Ireland is scheduled to host an international AI summit on October 14 during its presidency of the European Union this year.
Quotes
Sean McWilliams
Head of Fintech & Payments at IDA Ireland
“Ireland has a long track record of innovation in financial services, and AI is now the next key opportunity for companies, from global fintech multinationals to fast-growing startups, to harness technology and drive their international growth”
thehansindia.com
“I think Ireland offers a number of key factors that would be attractive to Indian companies looking to grow globally and diversify their international operations”
thehansindia.com
Sources
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