After PhonePe and Paytm, Google will now offer UPI service to users travelling abroad via its online payment aggregator Google Pay.
The digital payment firm is working with NPCI Payments International Limited (NPIL), a subsidiary firm of the National Payments Corporation of India (NPCI), to develop the service.
User travelling abroad will be able to pay foreign merchants via Google Pay UPI, and in the currency of that country. This would eliminate the need for international cards (debit/credit/forex).
At present, the facility is available in Singapore, Australia, Canada, Hong Kong, Oman, Qatar, USA, Saudi Arabia, United Arab Emirates, and United Kingdom.
Second, Google Pay (also known as GPay), will also be joining the list of apps and banks that would enable P2P remittances service via UPI, reducing dependence on conventional money transfer channels. As of now this is available between India and Singapore.
Singapore’s PayNow and India’s UPI users will be able to send money instantly and securely across the two countries.
Besides Google Pay, users of BHIM, PhonePe, and Paytm apps can access this facility. Additionally, banks such as Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India provide this functionality through their respective apps, and many others are expected to be added to the linkage soon.
Deeksha Kaushal, Director, Partnerships, Google Pay India said, “We are delighted to support NIPL towards expanding the reach of UPI to international markets. Google Pay has been a proud and willing collaborator to NPCI and the financial ecosystem, under the regulator’s guidance, and this collaboration is another step towards our commitment to making payments simple, safe and convenient.”
Ritesh Shukla, CEO, NPCI International Payments Limited (NIPL), added to this saying, "We are also excited about enabling a seamless and more connected international remittance network by further expanding UPI’s cross-border interoperability feature.”
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