NPCI Launches UPI One World to Facilitate Easy Payments for International Travelers

Digital payment apps like Google Pay, PhonePe, and Paytm are becoming increasingly popular. The National Payments Corporation of India (NPCI), which oversees payment systems, has introduced a new service called UPI One World. What does this service entail? Who can access it? Let's delve into the details.

Almost three-quarters of bank customers have embraced digital payments, from small shops to large supermarkets. Consequently, NPCI is continually updating digital payment systems to keep up with this trend.

NPCI has launched UPI One World, a new wallet service designed for international travelers visiting India. Unlike UPI Lite, which is only available to Indian residents, UPI One World caters to foreign visitors.

This initiative aims to elevate India's digital payment system to an international level. The service operates through a Prepaid Payment Instrument (PPI), allowing users to avoid direct bank account transactions.

International travelers can use the UPI One World wallet at various locations such as airports, hotels, and currency exchange points. To use this wallet, travelers must complete KYC (Know Your Customer) verification by providing passport and visa details.

During foreign currency exchange, money can be loaded into the UPI One World wallet. This service supports international credit and debit cards. Users can scan QR codes to make transactions in India.

Refunds for any remaining balance in the wallet are processed according to Foreign Exchange Regulations. The refund will be in the currency of the respective countries, ensuring ease and security for international travelers.

Collaborative Effort and Launch

The UPI One World wallet service is a collaborative effort between NPCI, IDFC First Bank, and Transcorp International Limited, with support from the Reserve Bank of India. This wallet was introduced during the G20 summit.

The service is now available nationwide but only for specific countries. Given its launch during the G20 summit, travelers from participating countries will have access to this service. Thus, over 20 countries are covered under this initiative.

This new service by NPCI aims to make digital payments more accessible and convenient for international visitors in India. By offering a secure and straightforward payment method, it enhances the overall travel experience for foreign tourists.