NPCI Launches UPI ONE WORLD, India’s Digital Wallet Now Accessible for NRIs and Foreign Visitors; Check Details
The National Payments Corporation of India (NPCI) launched UPI ONE WORLD, a digital payment solution designed to simplify cashless transactions for international tourists and non-resident Indians (NRIs) in India.
New Delhi, July 23: The National Payments Corporation of India (NPCI) launched “UPI ONE WORLD,” a new digital payment solution. It is a new service that provides hassle-free digital payment service for international tourists and non-resident Indians (NRIs) in India. UPI ONE WORLD simplifies transactions for citizens from abroad by helping them make cashless payments at UPI-enabled merchant locations throughout India.
As per a report of ABP Live, NPCI has introduced a new digital payment facility called “UPI ONE WORLD” for foreigners visiting India. The digital payment method is expected to improve the travel experiences of international visitors. It has been developed by a joint initiative involving multiple stakeholders which include IDFC First Bank and Transcorp International Limited with support from the Reserve Bank of India (RBI). Unified Payments Interface: UPI Adding up to 60 Lakh New Users Every Month, Boosted by RuPay Credit Card and Global Expansion.
Key Features of UPI ONE WORLD
The "UPI ONE WORLD" digital wallet provides numerous benefits. Travellers can get the wallet from authorised Prepaid Payment Instrument (PPI) providers at different places like airports, hotels, and currency exchange offices. This digital wallet eliminates the requirement of carrying cash or dealing with foreign exchange procedures. With the wallet, travellers can make payments by scanning QR codes at participating stores. UPI-Based Transactions Surge 49% YoY, Reach 13.89 Billion in June: NPCI Data.
How To Avail UPI ONE WORLD Service
First, users should download the issuer app and sign in. Then, they should visit the issuer counter to physically verify documents, such as passports and valid visas. Once your documents are verified, "UPI ONE WORLD" will be issued. Next, users should load the desired amount in INR to their account. Users can do this by exchanging foreign currency at the issuer counter with the help of Forex experts or by using their credit card or debit card. With the preloaded INR, users can make purchases at merchant outlets. Before a user leaves the country, they can encash any remaining balance loaded in their account.
(The above story first appeared on LatestLY on Jul 23, 2024 11:26 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).