India (Commonwealth Union)_ PhonePe, one of the major digital payment systems in India, has announced the debut of a new feature that enables customers to make international UPI payments. This is highly useful if you are traveling abroad and wish to pay international retailers. According to PhonePe, UPI payments may be made to any foreign merchants in Singapore, the United Arab Emirates (UAE), Mauritius, Bhutan, and Nepal who possess a local QR code.
Additionally, the firm intends to offer UPI International to other nations in the near future. UPI International was established in conjunction with NIPL (NPCI International Payments Limited). Further, NCPI has already announced support for international UPI payments in the above-mentioned countries. Using the PhonePe app, PhonePe customers can start and operate their UPI-linked bank account for UPI international at the merchant location or prior to their travel. According to the firm, the process is safe, and customers will be required to input their UPI PIN in order to activate the service.
Rahul Chari, CTO and Co-Founder of PhonePe, expressed optimism over the new feature. He said, “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 game changer and will completely transform the way Indians traveling overseas pay at merchant outlets abroad. PhonePe has always prided itself on 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!”.
The payments will be processed through Indian banks, and the recipient will get the funds in their local currency. This process eliminates the requirement for international credit, debit, and foreign exchange cards. PhonePe also announced that the new feature may be activated using the app, which is compatible with both iOS and Android smartphones. Additionally, as the new service is presently being implemented, it may take a while before it becomes accessible on your device.
