UPI International: Send Money from India to Abroad using UPI ?

UPI is known as Unified Payments Interface. It's completely transformed how we send and receive money in India.we can easily send money or make payment instantly there's no need for any cash, cards and no hassle. UPI is expanding its reach beyond borders and allowing users to make international transactions directly from their UPI apps. Don't you think it sounds futuristic ? It's already happening.

What is UPI International ?

UPI International is an extended version of India's UPI network that enables cross border payments using the same UPI interface and with this feature you can now pay business and merchants abroad or send money while travelling, using Indian apps like Gpay, Paytm, phone PE or BHIM Apps.

This new step the part of NPCI (National payment corporations of India) mission to globalise upi and make India digital payment more accessible around the world.

UPI International where you can use ?

UPI International is live in many countries like Singapore, Bhutan, Nepal branch, Sri Lanka and etc. This country's have signed partnership with NPCI to all UPI base transactions at supported merchant and platforms.

Example - You can pay in UAE Mall or restaurant using your Indian UPI apps and in Singapore you can send money via upi to local number link with Paynow.

There are more countries including the UK, Australia and the US. 

How it's work ?

1.Enable up International - go to upi app setting an enable International upi option. This may involve an extra layer of verification.

2. Link your International Bank account - there are many banks like (SBI,ICICI, AXIS BANK and HDFC).This Bank supports these features and you must have International transactions enabled.

3. Scan and pay - at the merchants location aboard, simply scan the QR code (if it supports UPI or NPCI). They Mount will be shown in the INR and local currency. 

4. Transaction limit - Right now currently, the daily limit is 100000 or equivalent depending on the country and Bank.

Charges and Currency conversion 

Yes, currency conversion charges apply and they depend on your bank forex rates and these are usually more expensive than credit card fees abroad and making your place a smart option for Indian tourists for business travelers.

However International payment like in money to friends family abroad using upi still limited that feature may roll out in the future phases.

This is a big deal but how ?

It can remove the dependency on cards for foreign currency while travelling and it is more secure and cheaper than cards for cash withdrawal and also promotes India's digital payment system globally increasing trust in the Indian fintech ecosystem.

Conclusion 

UPI International is a major leap in digital finance and it's still in its early stage. Its potential is huge. Imagine a future where you can walk into a shop in London or Dubai and you pay with your Indian no card no cards just your phone.

If you travel anywhere so just if an eye on this is face up I not just going global but its making global payment easier for Indian one QR code at a time.