The ‘UPI One World’ wallet for foreign tourists to enhance the use of the Unified Payments Interface (UPI) has been introduced by the National Payments Corporation of India (NPCI). this initiative aims to simplify financial transactions for international visitors by eliminating the need for cash. It has been developed in partnership with IDFC First Bank and Transcorp International Limited under the guidance of the Reserve Bank of India (RBI).
UPI One World: Simplified Digital Payments for All Foreign Tourists
Initially launched during the G20 summit for a select group of countries, the service is now available to all foreign tourists. Tourists can use the UPI One World wallet to make payments at merchant locations by scanning QR codes with the UPI One World app.
The tourists can use wallet by contacting authorized Prepaid Payment Instrument (PPI) issuers at airports, hotels, designated money exchange locations, and other touchpoints, completing full KYC procedures based on their passports and valid visas. Any unused amount after their visit can be transferred back to the original payment source, adhering to foreign exchange regulations.
UPI One World: Enhancing Global Digital Payments for Foreign Tourists
A UPI spokesperson emphasized that UPI One World offers a suitable solution for managing financial needs, including easy loading and balance transfers. This initiative is allowing foreign travellers to experience India’s real-time payment system. It is part of India’s broader strategy to create a globally interconnected digital payments ecosystem.
The launch line up with ongoing attempts by the Indian government to globalize UPI. Recently, NPCI’s international arm, NIPL has partnered with Network International in the UAE to boost UPI payments in the Middle East. Further, NPCI has integrated with Peru, Ghana, and Namibia to expand the adoption of its payment infrastructure.
UPI One World aims to make exploring India more suitable and build up the global reach of India’s digital payment systems. By providing international visitors with a perfect digital payment experience.
