The first fintech application to enable UPI payments in other countries is PhonePe. The “UPI international” payments were introduced by the payment app. Users from India won’t have to worry about making payments abroad anymore. Users will be able to instantly pay foreign businesses using UPI thanks to the latest PhonePe upgrade. PhonePe has expanded its UPI support to nations with native QR codes, such as the United Arab Emirates, Singapore, Mauritius, Nepal, and Bhutan. Similar to how they do with overseas debit cards, users will be able to make payments in foreign currencies directly from their Indian bank. Notably, PayTm is the only payment app that supports UPI payments to international merchants.
In-depth details about In the near future, UAE, Singapore, and other nations will accept UPI payments made by Indian passengers using PhonePe
Rahul Chari, CTO and Co-Founder of PhonePe, commented on the development, saying, “Over the past six years, all throughout India, we have been fortunate to experience the UPI payments revolution altering our daily lives. The first significant step towards allowing the rest of the globe to experience UPI is UPI International. This introduction will undoubtedly shift the game and drastically alter how Indians who travel abroad pay at merchant establishments abroad. As always, PhonePe takes great satisfaction in being the first TPAP to introduce new UPI features to the market. We appreciate PhonePe taking the initiative on this change. UPI must be experienced by everyone on earth!
When travelling outside of India, Indians will be able to make payments using PhonePe’s new UPI International capability. Prior to this, they had to utilise a foreign currency or their credit or currency cards to make purchases at stores in other countries. However, they can now utilise their Indian bank account to make payments thanks to UPI International. In the future, this capability will be made available in other nations, according to the National Payments Corporation of India (NPCI) and NPCI International Payments Limited (NIPL). Indians will find it simpler to make payments while on the road thanks to this.
Users of PhonePe can set up their UPI-linked bank account to use UPI International when shopping or before departing on a trip. The user must enter their UPI pin to activate the service, and the process is safe.
Rahul Chari, the CTO and co-founder of PhonePe, claims that UPI International is the first step towards extending the use of UPI payments to the rest of the world. He thinks that this new function will revolutionise how Indians make purchases at foreign retailers.