Google India Digital Services and NPCI International Payments have signed a Memorandum of Understanding (MoU) to help expand UPI payments to countries outside India.
The move will allow Indian travellers to pay in other countries using Google Pay (also known as GPay), eliminating the need to carry cash or use international payment gateways. The agreement also states that it plans to develop a UPI-like digital payment system in other countries, with the ultimate goal of providing a seamless experience when conducting financial transactions.
The move will allow Indian travellers to make payments in other countries using Google Pay (also known as GPay), eliminating the need to carry cash or use international payment gateways. The agreement also states that it intends to create a UPI-style digital payment system in other countries, with the ultimate goal of providing a seamless experience when conducting financial transactions.
Deeksha Kaushal, Director, Partnerships, Google Pay India, stated, “We are delighted to support NIPL in expanding UPI’s reach to international markets. Google Pay has been a proud and willing collaborator with the NPCI and the financial ecosystem under the regulator’s guidance, and this collaboration is another step toward our commitment to making payments simple, safe, and convenient.”
The partnership will also focus on making international remittances easier by leveraging the existing Unified Payments Interface (UPI) infrastructure. This could also help to accelerate the growth of UPI as an international payment method, giving foreign sellers access to Indian customers who are currently restricted by foreign currency, credit, and forex cards.
The MoU aims to make it easier for Indian travellers and visitors from other countries to do business and make payments in India by increasing UPI’s cross-border interoperability.
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