UPI: Indian travelers will now be able to make payments in other countries through Google Pay. This facility will eliminate the need to carry cash or resort to international payment gateways.
Google India Digital Services and NPCI International Payments Limited (NIPL), a wholly owned subsidiary of National Payments Corporation of India (NPCI), have entered into an agreement to expand UPI payments outside India. Under the Memorandum of Understanding (MoU), Indian travelers will now be able to make payments in other countries through Google Pay. This facility will eliminate the need to carry cash or resort to international payment gateways.
Google Pay said in the statement, “The MoU has three main objectives. First, it wants to widen the use of UPI payments for travelers outside India, allowing them to easily transact abroad. Second, the MoU aims to assist other countries in setting up digital payment systems like UPI, which will provide a model for seamless financial transactions. Ultimately, it focuses on simplifying the process of remittances between countries using the UPI infrastructure, thereby simplifying cross-border financial transactions.”
Ritesh Shukla, Chief Executive Officer (CEO), NIPL, said, “This strategic partnership will not only simplify overseas transactions for Indian travelers but will also allow us to expand our knowledge and expertise on operating a successful digital payment system to other countries. Will let you do it.”
This MoU will strengthen UPI’s global presence, provide foreign merchants access to Indian customers who no longer have to rely solely on foreign currency and/or credit or foreign currency cards to make digital payments and have access to Google from India. There will be an option to use UPI powered apps including Pay.
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