Government-backed payment networks like UPI and Pix are reportedly in advanced discussions to establish cross-border collaborations with foreign central banks. These potential partnerships aim to streamline international transactions, reducing reliance on traditional banking systems and lowering costs for users. Officials suggest the move could accelerate financial inclusion by enabling seamless money transfers between participating countries. The initiative follows growing global interest in interoperable digital payment infrastructures.
Government-backed networks such as UPI and Pix explore link-ups with central banks overseas
