Good news for Indian tourists! UPI payments via google pay to go global soon

In a bid to make financial transactions outside India easier, Google India Digital Services and NPCI International Payments Ltd (NIPL) have signed a Memorandum of Understanding to extend the UPI transactions globally.

UPI to go global

The MOU has three important objectives. They include broadening of UPI payments for travelers outside India to facilitate convenient transactions abroad, to assist in establishing UPI like digital payment systems in other countries and to simplify the process of remittances between countries by leveraging the UPI infrastructure.

Also Read: UPI transactions in India soar: Highest ever transactions seen in December 2023

As per Business Today, this initiative will accelerate UPI’s global acceptance, giving foreign merchants access to Indian customers who will no longer have to rely solely on foreign currency or credit/forex cards for digital payments. They will now have the option of using UPI-powered apps from India, including Google Pay

Deeksha Kaushal, Director, Partnerships, Google Pay India said that this partnership will strengthen the commitment towards making payments simple, safe, and convenient.

“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. UPI has demonstrated to the world the step change that happens in economies with the introduction of interoperable, population scale digital infrastructure and each economy that joins such networks will create impact beyond the sum of parts. We are very excited about the scope of this collaboration”, Kaushal said.

Meanwhile, NPCI CEO Ritesh Shukla mentioned that this collaboration will allow the firm to extend their knowledge and expertise of operating a successful digital payments ecosystem to other countries.