RBI extends UPI for international travellers in India

To enable convenient means of digital payments for international travellers, the Reserve Bank of India (RBI), announced yesterday that all foreigners visiting India can now make payments by availing United Payments Interface (UPI) while in India. The provision will be made available from the 21st of February 2023, as per RBI’s statement.

Foreign travellers can now utilise the Prepaid Payments Instruments (PPI) wallets that are connected to UPI for making payments. The RBI further said that the means will be initially available for travellers visiting from G-20 countries – a development we covered last month.

“The Reserve Bank of India (RBI) had announced in the Statement on Developmental and Regulatory Policies dated February 08, 2023, a facility to enable all in-bound travellers visiting India to make local payments using Unified Payments Interface (UPI) while they are in India. This facility is made available from today,” said Yogesh Dayal, RBI’s Chief General Manager, in a press release.

“To start with, it’s available to travellers from G-20 countries, at select international airports (Bengaluru, Mumbai, and New Delhi). Eligible travellers would be issued Prepaid Payment Instruments (PPI) wallets linked to UPI for making payments at merchant outlets. Delegates from G20 countries can also avail this facility at various meeting venues. To begin with, ICICI Bank, IDFC First Bank and two non-bank PPI issuers, Pine Labs Private Limited, and Transcorp International Limited will issue UPI linked wallets,” Dayal stated.

“Travellers visiting India can now experience the convenience of UPI payments at over five crore merchants outlets across India, that accept QR Code-based UPI payments,” Dayal concluded.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of ET Edge Insights, its management, or its members

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