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PhonePe, one of India’s largest digital payment platforms, has announced the launch of a new feature that lets users make international payments via UPI. This is really handy if you are travelling to another country and want to pay foreign merchants.
PhonePe says UPI payments can be made to any international merchants in Singapore, United Arab Emirates (UAE), Bhutan and Nepal who have a local QR code. Developed in collaboration with NIPL (NPCI International Payments Limited), the company has plans to introduce ‘UPI International’ to more countries in the near future. The National Payments Corporation of India (NCPI) had earlier announced support for international UPI payments in the aforementioned countries.
“Over the past six years, all over India we have been lucky to experience the UPI payments revolution transforming our daily lives. UPI international is the first major step in letting the rest of the world experience UPI too. I am sure this launch will prove to be a gamechanger and will completely transform the way Indians traveling overseas pay at merchant outlets abroad. PhonePe has always prided itself in being the first TPAP to take new UPI features to the market, and this time is no different. We are glad that PhonePe is leading this change. The entire world needs to experience UPI!”, Rahul Chari, CTO and Co-Founder of PhonePe.
PhonePe users can activate their UPI linked bank account for UPI international at the merchant location, or before their trip via the app. The company says ‘the flow is secure and will require the customer to enter their UPI pin in order to activate the service.’
The payments will be made using Indian banks and the receiver will get the money in their local currency. This eliminates the need for international credit, debit and forex cards. PhonePe says the new feature can be activated via the app, which is available on both Android as well as iOS devices. The new feature is currently rolling out, so it might take some time before it is available on your device.
