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UPI's Global Expansion: Countries Embracing India's Digital



  Feb 21, 2024

UPI's Global Expansion: Countries Embracing India's Digital Payment



UPI’s Global Expansion: Countries Accepting India’s Digital Payment System

Unified Payments Interface (UPI), a revolutionary digital payment system from India, has now crossed national boundaries, offering seamless and charge-free transactions in several countries. Developed by the National Payments Corporation of India (NPCI), UPI facilitates instant money transfers using just a mobile number or scanning a QR code, directly debiting the linked bank account without any fees. Its convenience and efficiency have made it a preferred payment method, not just in India but also internationally.

Countries Accepting UPI Payments:

1. Sri Lanka
2. Mauritius
3. France
4. UAE
5. Singapore
6. Bhutan
7. Nepal

Among these, Bhutan and France have been noteworthy in their early adoption of UPI, with Bhutan integrating it in 2021 in partnership with the Royal Monetary Authority (RMA), and France enabling UPI transactions at significant landmarks like the Eiffel Tower through collaboration with Lyra. This expansion into the European market is particularly significant, promising broader acceptance in Europe for Indian travelers. Similarly, the UAE, a key trade partner of India, has embraced UPI, enhancing economic interactions between the two nations.

Enabling International UPI Payments:

To use UPI abroad, users must activate international payments through their respective UPI apps, such as PhonePe. This activation allows Indian tourists and expatriates to conduct transactions effortlessly in these countries, although it’s advisable to carry other payment methods due to the selective acceptance of UPI payments internationally.

Banks Supporting UPI International Payments:

Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
City Union Bank Limited
ESAF Small Finance Bank Limited
The Federal Bank Limited
Indian Bank
IndusInd Bank Limited
Karur Vysya Bank Limited
Punjab & Sind Bank
Punjab National Bank
South Indian Bank Limited
The Cosmos Bank
Union Bank of India

Important Considerations:

While UPI’s international expansion is a significant milestone, users should note potential bank charges for international transactions and the necessity of an active internet connection for making UPI payments. The global acceptance of UPI underscores India’s growing influence in the digital economy and its commitment to enhancing the convenience and security of cross-border transactions.

SRIRAM’s


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