PhonePe introduces UPI payments in UAE, other countries
PhonePe users can activate their UPI-linked bank accounts for 'UPI International' either at the merchant location or prior to their international journey.
Digital payments platform has launched support for 'UPI International' payments. With this, Indians who travel abroad to countries, including the United Arab Emirates, Singapore, and Nepal, will be able to make international payments through UPI (Unified Payments Interface).
The UPI payments will be supported by international merchant outlets of all three countries, given that they have a local QR code.
"Earlier, Indian customers had to use foreign currency, or their credit or forex cards to make payments at international merchant outlets. Now, they can use their Indian Bank account to pay using UPI," read a statement shared by the company.
PhonePe users can activate their UPI linked bank accounts for the new feature through the app either at the merchant location or prior to their international journey. The application is available on Android as well as iOS phones.
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To facilitate the activation, users will be required to enter their UPI pin. The receiver will receive the transferred money in their local currency.
NPCI (National Payments Corporation of India) in partnership with NIPL (NPCI International Payments Ltd) aims to introduce UPI International to more countries in the future.
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Edited by Kanishk Singh