UPI One World Wallet Service Launched For NRIs, International Travelers

The scope of Unified Payments Interface (UPI) has grown rapidly in the country in the last few years. It is also being expanded abroad. The National Payments Corporation of India (NPCI) has launched the UPI One World Wallet service for non-resident Indians (NRIs) and international travelers visiting the country. This will allow travelers who do not have an Indian bank account to access UPI and make payments.

NPCI has launched this service in collaboration with IDFC First Bank and Transcorp International Limited under the guidance of Reserve Bank of India (RBI). NPCI He said that with UPI One World wallet, travelers visiting the country will be able to make digital payments to merchants in a secure way. In this, foreign travelers and NRIs will have to download a prepaid payment instrument – UPI app. With this, they will be able to make payments by scanning the QR code of merchants using the camera of their smartphone.

This service can be used by merchants and hotels as well as for online shopping and travel booking. UPI is also expanding rapidly abroad. Recently, this QR based service was launched in the United Arab Emirates (UAE). For this, NPCI International Payments Limited (NIPL) has tied up with Network International. UPI payments can be made through more than two lakh point-of-sale (POS) terminals of Network International in UAE. NIPL said that through this, Indian tourists and NRIs in UAE will be able to make secure payments by just scanning the QR code. It will be accepted at Mall of Emirates, Dubai Mall, and other retail stores.

Network International has more than 60,000 merchants associated with retail, hospitality, transport and other sectors. Digital payments have grown rapidly since the introduction of UPI. This allows users to easily transfer payments from their smartphones. According to RBI data, the value of transactions done through UPI has increased by about 137 percent in the last two years to about Rs 200 lakh crore. This payment service has also been started in Sri Lanka and Mauritius.