NPCI introduces new service allowing international travellers in India to conveniently use UPI: Read more for details
The ‘UPI One World’ wallet service has been introduced by the National Payments Corporation of India (NPCI) to provide convenient digital payment options for international visitors in India. This initiative aims to streamline financial transactions for foreign nationals and Non-Resident Indians (NRIs) from G20 nations, improving their overall travel experience within the country.
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Easy UPI connection for Travelers
The UPI One World wallet acts as a prepaid instrument (PPI) linked to India’s Unified Payments Interface (UPI), allowing visitors to make cash payments at UPI-enabled merchants across the country. By using this service, travelers can avoid the inconvenience of carrying cash or handling multiple currency transactions. This makes exploring India’s diverse cultural and scenic attractions easier.
For the UPI One World wallet, international travelers can approach authorized PPI issuers at various locations such as airports, hotels and designated currency exchange points. The service is also available at the Bharat Mandapam, the venue for the upcoming meeting of the World Heritage Committee on 21-31 July 2024.
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Key features and collaboration
The UPI One World wallet has several important features that ensure a smooth user experience. The registration process includes a full Know Your Customer (KYC) procedure, which requires a passport and a valid visa. Users can load their wallet with cash or other means of payment. The PPI-UPI app enables real-time balance checking and any unused balances can be credited as per foreign exchange regulations.
This initiative is a collaborative venture involving NPCI, IDFC First Bank and Transcorp International Limited under the supervision of Reserve Bank of India. An NPCI spokesperson highlighted the importance of this service and noted that it is a significant step towards creating an interconnected digital payments ecosystem that will extend the UPI experience to international visitors.
In conclusion, the introduction of NPCI’s UPI One World wallet marks a significant step forward in providing international travelers with more efficient and hassle-free payment solutions in India. This development underscores India’s commitment to improving its digital infrastructure and promoting a more inclusive digital economy.
