PhonePe Launches International UPI Service: PhonePe's New UPI Service Makes Cross-Border Payments Easy

Recently, Phonepe introduced a new function that enables customers to quickly make international payments via UPI. With this announcement, phonepe, an Indian fintech business, became the first to launch such a facility. Indians may conveniently make payments when travelling overseas thanks to this facility. This is a fantastic move that will greatly simplify international payments.

Countries to have this facility

• UAE
• Singapore
• Mauritius
• Nepal
• Bhutan

All foreign merchant locations in the aforementioned five nations that have a local QR code can use this capability, according to PhonPe. The facility will be expanded by the corporation to numerous additional nations.

How will the new feature work?

With this service, Indian banks will take money out of the user's account in foreign currency, and the recipient will get paid in their home currency. Similar to international debit card transactions, the procedure.

How to use the new facility?

This new facility can be activated on your respective PhonePe app. You can download the PhonePe app if not installed from the playstore. The PhonPe app is available on both iOS and Android. This facility can be activated before the journey starts or at the merchant's location. By using this option, you can make payments outside of India without using a credit card or foreign currency card.

The new feature was introduced in collaboration with NPCI International Payments Limited. NIPL CEO, conveyed his plans to extend UPI services to the overseas market in July last year , saying that it can be a home-grown alternative to SWIFT- a Belgium-based cross-border payment system operator.