Thursday, October 24, 2019, 6:09 PM
Soon, you can pay via UPI all over the world
Indians travelling abroad may soon be able to use the Unified Payments Interface (UPI) to pay for goods and services there, according to two bankers in the know of the matter. UPI is an inter-bank fund transfer mechanism run by the National Payments Corporation of India (NPCI) and enables instant fund settlement through a smartphone. NPCI is working to enable this feature within the next six months, starting with the United Arab Emirates (UAE) and Singapore, sources told ET. “These two countries already have opened up to RuPay cards; now the target is to enable UPI payments. This will be a big boost for Indians traveling in those countries and, just like their debit card or credit card, they can pay via UPI,” said a senior banker.
