New Delhi, India – India’s Unified Payments Interface (UPI) is rapidly expanding its global footprint with the launch of several new international payment corridors and cross-border remittance pilots. NPCI International Payments Limited (NIPL), the global arm of the NPCI, announced today at the India Mobile Congress that live cross-border payment linkages have been established with three new partner countries, enabling seamless real-time payments for travelers and businesses.
These new corridors build on the success of existing UPI linkages with countries like Singapore and the UAE. Now, Indian travelers in these new partner nations can simply use their existing Indian UPI apps (like PhonePe or Google Pay) to scan local QR codes at merchant outlets and send money straight from their Indian bank accounts.. The currency conversion is handled automatically in the backend at a competitive exchange rate, offering a vastly more convenient and transparent experience compared to using international credit cards or exchanging cash.
Simultaneously, the NIPL is pushing forward with the second phase of its global strategy: cross-border remittances. Pilot programs have been launched to facilitate person-to-person (P2P) fund transfers between India and several key partner countries with large Indian diasporas. This will allow an Indian expatriate working abroad to send money home to their family in India instantly, with the funds being credited directly to the recipient’s bank account via their UPI ID. This system aims to disrupt the traditional remittance industry, which is often characterized by high fees and slow transfer times.
The expansion of UPI internationally is a key element of India’s ‘Fintech Diplomacy’. By creating these bilateral payment linkages, India is not only making life easier for its citizens but also exporting its highly successful digital public infrastructure model. The simplicity, low cost, and interoperability of UPI are proving to be attractive to other nations looking to modernize their own payment systems. This strategic expansion is cementing UPI’s status as a globally influential platform and a powerful symbol of India’s growing technological prowess.
