India's payment system, especially its Unified Payments Interface (UPI), has grown rapidly over the past few years and has achieved a certain level of global coverage and influence. Below is a breakdown of the countries and regions covered by India's payment system globally:
1. **South-East Asian countries**:
- Indian payment systems have wider coverage in South East Asian countries such as Nepal, Bangladesh, Sri Lanka, Maldives, etc. These countries have closer economic and cultural ties with India, and hence the popularity of the Indian payment system is higher in these countries.
2. **Middle East region**:
- There is also some coverage of Indian payment systems in the Middle East, especially in oil-exporting countries such as the UAE, Saudi Arabia and Qatar. These countries have a large Indian diaspora that makes cross-border remittances and payments through the Indian payment system.
3. **African region**:
- In Africa, Indian payment systems have some coverage in countries such as Egypt, Kenya and South Africa. These countries have a large Indian community and Indian companies have investments there, so Indian payment systems are used more frequently in these countries.
4. **European region**:
- In Europe, Indian payment systems have some coverage in countries such as the United Kingdom, Germany and France. These countries have large Indian communities and India has closer economic ties with these countries.
5. **North American region**:
- In North America, Indian payment systems have coverage in the United States and Canada. These two countries have large Indian communities and the use of Indian payment systems is more prevalent in these countries.
6. **Australia and New Zealand**:
- In Australia and New Zealand, there is also some coverage of Indian payment systems, mainly due to the active local Indian community and Indian businesses.
7. **Other areas**:
- Apart from the above mentioned regions, the Indian payment system has some coverage in some other countries and regions such as Japan, South Korea and Singapore.
It is important to note that the extent of global coverage of Indian payment systems is influenced by the following factors:
- **Policies and regulations**: Policies and regulations in different countries and regions have a significant impact on the access and operation of payment systems.
- **Market Demand**: The penetration of payment systems in India is closely related to the size of the local Indian community, the activity of Indian businesses and market demand.
- **Technical compatibility**: Indian payment systems need to be compatible with local payment systems for seamless and convenient payments.
In conclusion, the Indian payment system is gradually expanding its global coverage in terms of countries and regions, but still needs to overcome various challenges to achieve wider penetration.
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