Google India Digital Services and NPCI International Payments Ltd (NIPL) have signed a Memorandum of Understanding (MoU) that paves the way for extending the use of UPI (Unified Payments Interface) payments globally.
This memorandum will offer Indian tourists the convenience of using UPI with Google Pay worldwide without any hassle.
It was announced by NPCI International Payments Ltd through a post on their X (formerly Twitter) handle.
The MoU outlines three primary objectives. Firstly, it seeks to broaden the usage of UPI payments for Indian travellers outside the country, ensuring hassle-free transactions abroad.
Secondly, it aims to assist in establishing UPI-like digital payment systems in other nations, providing a blueprint for seamless financial transactions.
Lastly, the agreement aims to simplify cross-border remittances by leveraging the UPI infrastructure.
This collaborative initiative is expected to expedite the global acceptance of UPI, providing foreign merchants with access to Indian customers.
This means Indian tourists will no longer be limited to using foreign currency or credit/forex cards for digital payments; instead, they can opt for UPI-powered apps from India, including Google Pay.
Expressing excitement about the collaboration, Deeksha Kaushal, Director, Partnerships, Google Pay India, highlighted that this partnership is a significant step towards their commitment to making payments simple, safe, and convenient.
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.”
Kaushal stressed that UPI has showcased the transformative impact of interoperable, population-scale digital infrastructure, and this collaboration reflects their enthusiasm for its global potential.
Ritesh Shukla, CEO of NPCI International Payments Limited (NIPL), also expressed enthusiasm, stating that the partnership not only simplifies foreign transactions for Indian travellers but also allows them to share their expertise in operating a successful digital payment ecosystem with other countries.
It’s worth noting that India’s UPI has been expanding its global footprint, with connections established in countries such as Singapore, France, Sri Lanka, and the UAE since last year.
Initially, UPI was integrated with Singapore’s PayNow in February last year for instant cross-border money transfers, with subsequent expansions to France and other regions.
(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)