RBI unveils UPI payments facility for international travellers in India

According to the RBI statement, the facility is available to the travellers from G-20 nations at select international airports of New Delhi, Mumbai and Bengaluru.

Published on: Feb 21, 2023, 21:37:59 IST

By HT News Desk | Edited by Aryan Prakash

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The Reserve Bank of India has announced that all international travellers visiting India will be able to make local payments using Unified Payments Interface (UPI) while they are in the country. The facility has been effective from today itself, the central bank said in a statement.

According to the statement, the facility is available to the travellers from G-20 nations at select international airports of New Delhi, Mumbai and Bengaluru.

UPI is a mobile-based fast payment system that facilitates customers to make round the clock payments instantly using a Virtual Payment Address (VPA). (File)

The G20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US, and the European Union (EU).

The travellers will be issued prepaid payment instruments (PPI) wallets which will be linked to UPI for making payments.

The delegates from G20 nations can also avail this UPI facility at meeting venues. The UPI-linked wallets will be issued by private lenders ICICI Bank, IDFC First Bank along with two non-bank PPI issuers named Pine Labs Private Limited and Transcorp International Limited.

“Travellers visiting India can now experience the convenience of UPI payments at over five crore merchant outlets across India, that accept QR Code-based UPI payments”, the RBI statement read.

The central bank's move comes on a day when India and Singapore unveiled the linking of their real-time digital payments systems. The move is aimed at facilitating cheaper and safer cross-border remittances and benefit members of the Indian diaspora in Singapore.

Five years after the idea was conceived, the linking of Singapore's PayNow and India's UPI is the first cross-border person-to-person payments link for India and second for the city state.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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