In June 2024, which among the following became the first South American country to adopt a UPI-like instant payments system through a partnership with NPCI International Payments Limited (NIPL)?

Explanation

Peru is the first South American country to adopt a UPI-like instant payments system, following an agreement between NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), and the central bank of Peru. This partnership aims to develop instant payment technology similar to UPI for Peru, enhancing its digital payments infrastructure. NIPL had previously entered into a similar agreement with the Bank of Namibia earlier in 2024. Static facts about Peru: • Capital: Lima • Currency: Peruvian Sol (PEN) • Official Language: Spanish (with Quechua and Aymara also recognized in specific regions) • Continent: South America