UPI One World wallet now available to all international visitors coming to India
By MYBRANDBOOK
The National Payments Corporation of India (NPCI) has announced the extension of its 'UPI One World' wallet service to all international travellers visiting India. First introduced during the G20 summit in India last year, this service will also be available for delegates attending the World Heritage Committee meeting in New Delhi from July 21-31, 2024.
This digital payment solution aims to provide a seamless and real-time payment experience, enhancing the convenience for international tourists exploring India.
Following a full KYC process using a passport and valid visa, the wallet can be obtained at airports, hotels, money exchange locations, and other designated points. Visitors can load the wallet with cash or through other payment methods and make payments by scanning QR codes at merchant locations.
Any unused balance can be transferred back to the original payment source, complying with foreign exchange regulations.
The introduction of the UPI One World wallet is a step towards simplification of financial transactions for international travellers, eliminating the need to carry cash or deal with foreign exchange issues.
This move aligns with NPCI's mission to innovate retail payment systems and promote a digital economy in India. In June 2024, UPI processed nearly 14 billion transactions worth Rs 20.07 trillion (~USD 240 billion), showcasing its extensive reach and reliability.
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