The National Payments Corporation of India (NPCI) has submitted a bid to the Central Bank of Myanmar (CBM) to build the country's real-time retail payments system and QR-code generation and repository system, the Economic Times reported. The bid was submitted by NPCI International (NIPL), a recently set up a subsidiary of the NPCI, alongside US-based payments company Euronet. On the back of its success with the Unified Payments Interface (UPI), the NPCI plans to internationalise UPI and their card network Rupay. NIPL was set up in August this year to export the NPCI's technical know-how surrounding retail payments systems. In fact, the success of UPI in India has also prompted Google to recommend a similar real-time payments platform to the US Federal Reserve. In September this year, UPI clocked in 180 crore transactions worth around ₹3.29 lakh crore, a growth…
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