Soon you will be able to make payments via UPI globally for different goods and services availed there, told two bankers familiar with the development.
Unified Payments Interface or UPI is a National Payments Corporation of India (NPCI)-run payments platform that facilitates instantaneous fund settlement using a smartphone.
In accordance with an ET report, UPI payment gateway can be accessed for payment globally in the next six months time as NPCI is already in the works to enable the facility, starting with the UAE and Singapore.
"These two countries already have opened up to RuPay cards; now the target is to enable UPI payments. This will be a big boost for Indians traveling in those countries and, just like their debit card or credit card, they can pay via UPI," said a senior banker.
The committee set up on digital payments led by Nandan Nilkeani put forward a proposal that NPCI should augment the footprint of its different payment gateways such as RuPay, UPI and BHIM to international level.
The wider acceptance of these payment modes internationally will ease international remittances and at the same time help Indians going abroad.