Mumbai, Sep 7 (SocialNews.XYZ) Ireland is keen to understand the rapid growth of India’s Unified Payments Interface (UPI) and explore how the digital payments innovation could have relevance for Ireland, the European Union and other markets, Sean McWilliams, Head of Fintech & Payments at IDA Ireland, said on Monday.
Speaking to IANS on the sidelines of the Global FinTech Festival in Mumbai, McWilliams said his visit to India was aimed at understanding the key trends and growth opportunities in the country’s fintech and payments ecosystem, while also exploring how Ireland could support Indian companies seeking international expansion.
“UPI is obviously a key part of India’s payments ecosystem, and I’m very interested in learning more about it,” McWilliams said, adding that countries and regions across the world are looking at ways to make payments more accessible, seamless and easier to use.
He said he was particularly interested in understanding how the growth of UPI in India could have relevance for Ireland and the European Union, as well as whether there could be potential crossovers with fintech developments taking place in Ireland.
McWilliams also highlighted Ireland’s growing focus on artificial intelligence (AI), saying the country had recently launched a national AI strategy aimed at developing Ireland as both a national and international hub for the technology.
According to him, the strategy focuses on emerging technologies, developing skills and talent, and creating an environment where companies can innovate while ensuring that AI development remains responsible and well regulated.
“Ireland has a long track record of innovation in financial services, and AI is now the next key opportunity for companies, from global fintech multinationals to fast-growing startups, to harness technology and drive their international growth,” he said.
Ireland is also set to host an international AI summit on October 14 as part of its presidency of the European Union this year. McWilliams said the summit would bring together leading companies, policymakers and international thought leaders to discuss key AI trends, challenges and opportunities, while showcasing Ireland’s position as an AI hub.
He said Ireland could offer several advantages to Indian companies looking to expand internationally and diversify their operations.
“I think Ireland offers a number of key factors that would be attractive to Indian companies looking to grow globally and diversify their international operations,” McWilliams said.
Source: IANS
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