Without requiring traditional banking infrastructure, the link would allow UPI users in India to handle payments using Sticpay's platform and "make domestic and international money transfers more quickly, affordably and securely."

Furthermore, the paytech positions the move as "an additional digital payment option at a time when more than 40% of payments in India have become digital," which it says would assist local companies.

The integration with UPI, according to Sticpay CEO Sean Park, is "a significant new chapter in Sticpay's growth story."

"Our goal in India is to improve this ecosystem even more so that Indian consumers and merchants can access a cutting-edge financial ecosystem that suits their needs," he states.

Sticpay was established in 2018 and states that it offers more than one million customers in 200 countries a variety of payment options, such as the transfer of fiat and cryptocurrency by bank wire, credit card, and local payment methods.

The most recent addition to the paytech platform comes as UPI's potential is becoming more widely acknowledged worldwide. The Central Reserve Bank of Peru has declared that it has reached an agreement with NPCI International Payments Limited to create a UPI-like quick payment system for the South American nation.