With the recent developments, PhonePe users can now make UPI payments abroad. This concludes that UPI payments can be received and made for any type of purchase in five different countries. Just like any other international debit or credit card, PhonePe users can pay with any local QR code abroad.
PhonePe Users Can Make Payments in Five Countries
UAE, Singapore, Nepal, Bhutan and Mauritius are the five countries in which PhonePe users can now make UPI payments to merchants having local QR codes.
The announcement was made by the leading digital payment company in India, PhonePe, as they launch their ‘UPI international’- a new payment feature. Hence, they are the first fintech to introduce cross-country UPI Payments possible.
So, “The UPI payments can be made to foreign merchants in the said countries, provided they have a local QR code. Just like international debit cards, users can make UPI payments in foreign currency from their Indian bank,” mentioned cnbctv18.
How to Use PhonePe for International UPI Payments?
First, the PhonePe users will have to activate their UPI-linked accounts to enable them to make payments abroad. UPI International features will be active after this process before their international trip.
Also read:
PPF: Features, Key Benefits, Eligibility, Documents Needed
What Experts Say?
Rahul Chari, fintech’s co-founder and chief technology officer, said, “I am sure this launch will prove to be a game-changer and will completely transform the way Indians travelling 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!”
“Over the course of this year, National Payments Corporation of India (NPCI) in collaboration with NIPL (NPCI International Payments Limited) plans to roll out UPI International in more countries, while also enabling greater merchant acceptance in the regions where this feature is currently live,” said PhonePe
