BENEFIT and NIPL Sign Linkage Agreement to Enable Real-Time Cross-Border Payments

Bahrain's BENEFIT and India's NPCI International Payments Limited have signed a linkage agreement to connect their instant payment systems, enabling real-time cross-border remittances between Bahrain and India.

The partnership links India's Unified Payments Interface with Bahrain's Fawri+ instant payment system, creating a direct corridor for instant, low-cost transfers between the two countries. The connection eliminates the need for intermediary banks and correspondent banking arrangements that traditionally add cost and delay to cross-border transfers.

The Bahrain-India remittance corridor is commercially significant, given the large Indian expatriate community in Bahrain that regularly sends money home. The UPI-Fawri+ link will enable these transfers to settle in real time rather than the hours or days required through conventional channels.

NPCI International has been aggressively pursuing international linkages for UPI, connecting India's instant payment system with counterparts in Singapore, the UAE, and other markets. The Bahrain agreement extends this network into the Gulf, where Indian diaspora populations generate substantial remittance volumes.

For BENEFIT, the linkage demonstrates the international utility of Bahrain's payment infrastructure and supports the country's ambitions as a regional fintech hub. The ability to connect seamlessly with one of the world's most advanced instant payment systems enhances Bahrain's attractiveness for fintech companies and international businesses.

The agreement was signed with plans for phased implementation, beginning with person-to-person transfers before expanding to merchant payments.