KUALA LUMPUR: Financial safeguards will be in place when India’s Unified Payments Inter­face (UPI) system is introduced in Malaysia, says India’s External Affairs Ministry Secretary (East) P. Kumaran. He said the safeguards will be directly built into the system to ensure that UPI is not abused by unintended parties. Kumaran added that there is currently no timeline for the introduction of UPI to Malaysia due to various complicated technical steps that need to be completed first. The move comes after Modi announced during a reception here on Saturday that India’s UPI system will enter the Malaysian market, as Malaysia and India seek to deepen their longstanding economic ties. Regulated by the Reserve Bank of India, UPI is a real-time digital payment system that enables instant peer-to-peer and person-to-merchant transactions directly by linking user bank accounts to the UPI application on their phone.

Source: The Star February 08, 2026 23:42 UTC