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Google Pay, NIPL partner to promote UPI globally
This will allow Indian visitors in foreign countries pay for services digitally
Google Pay and NPCI International have signed an MoU / (Image - Wikipedia)
Google Pay and NPCI International Payments have inked an agreement to extend the use of India's Unified Payments Interface (UPI) payments outside the country.
With the new partnership, Indian tourists will be able to conduct digital transactions overseas and set up UPI-like networks in other nations.
According to Google Pay, the advancement will allow international retailers to reach Indian consumers as they won't need to rely on credit, forex, or foreign currency cards to make payments. Consumers will be able to pay for anything using UPI-enabled apps from India.
“We are delighted to support NIPL (NPCI International Payments) 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,” said Deeksha Kaushal, director of partnerships, Google Pay India.
“We are pleased to team up with Google Pay to propel UPI onto the global stage. This strategic partnership will not only simplify foreign transactions for Indian travellers but will also allow us to extend our knowledge and expertise of operating a successful digital payments ecosystem to other countries,” added Ritesh Shukla, chief executive officer of NIPL.
An agreement was reached in July 2023 between NPCI and Lyra, a French company, to allow UPI and Rupay cards to be used in the European nation.
The United Arab Emirates, Canada, Bhutan, and Nepal have all embraced UPI as a form of payment. Leading banks such as Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India now offer UPI’s capability across the globe.
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