International travellers in India can now easily access UPI, NPCI launches new service: Check details
The National Payments Corporation of India (NPCI) has launched the 'UPI One World' wallet service, aiming to facilitate seamless digital payments for international travellers visiting India. This initiative is designed to simplify financial transactions for foreign nationals and Non-Resident Indians (NRIs) from G20 countries, enhancing their travel experience in India.
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The UPI One World wallet functions as a Prepaid Payment Instrument (PPI) linked to India's Unified Payments Interface (UPI), enabling visitors to make cashless payments at UPI-enabled merchant locations across the country. By using this service, travellers can avoid the inconvenience of carrying cash or handling multiple foreign exchange transactions. This makes exploring India's diverse cultural and scenic attractions more convenient.
To access the UPI One World wallet, international travellers can approach authorized PPI issuers at various locations such as airports, hotels, and designated money exchange spots. The service will also be available at Bharat Mandapam, the venue for the upcoming World Heritage Committee meeting scheduled from July 21-31, 2024.
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The UPI One World wallet comes with several key features to ensure a smooth user experience. The registration process includes a complete Know Your Customer (KYC) procedure, requiring a passport and valid visa. Users can load their wallets using foreign currency cash or other payment instruments. The PPI-UPI app allows real-time balance checking, and any unutilized balances can be refunded in compliance with foreign exchange regulations.
This initiative is a collaborative effort involving NPCI, IDFC First Bank, and Transcorp International Limited, under the supervision of the Reserve Bank of India. An NPCI spokesperson highlighted the significance of this service, noting
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