UPI users get new service, payment will be easy
UPI One World: UPI One World Wallet was first introduced during the G20 summit organized by India last year, now it will be available to people coming from many more countries. Foreigners can use the facility of Made in India technology. This will eliminate the need to carry cash and the difficulties of foreign exchange transactions to a large extent.
The National Payments Corporation of India (NPCI) on Monday announced the launch of UPI One World Wallet for travelers coming to India from all countries around the world. This initiative is designed to provide a seamless, real-time digital payment experience to international visitors.
The UPI One World Wallet, introduced during the G20 summit hosted by India last year, is now going to be available to people from many more countries. Made in India technology can be utilized by foreigners. To a large extent, this will eliminate carrying cash and the problems related to foreign exchange transactions.
UPI One World Wallet can be availed through authorised PPI issuers at airports, hotels and other touchpoints after full KYC process based on passport and valid visa. "The purpose behind bringing this service is to reduce the difficulties of people coming from abroad. It is to improve their experience by equipping it with UPI, which is the most preferred payment option among Indians," NPCI spokesperson said. All financial needs of international visitors can be met with UPI one world.
It allows convenient loading. Emphasis has been laid on improving the digital payment system to enable foreign travelers to experience the real-time payment system developed by India. International travelers can use the UPI One World app to make payments at merchant locations by simply scanning the QR code. This facility has been made possible by the joint efforts of NPCI, IDFC First Bank and Transcorp International Limited under the guidance of the Reserve Bank of India.
