Can we use ‘PhonePe’ and ‘Google Pay’. How?
Indian UPI is global, NPCI is a key decision for NRIs abroad, Expansion to first 10 countries,. Changes to use UPI platforms while staying abroad – Hello Everyone I hope Your Good And enjoying Our Personal Finance, offers And Many More Loot Deals
UPI Payments
There Is No One Who Does Not Know About UPI Payments. The Phone Has Many Third Party Payments Apps Like Phone Pay, Google Pay, Paytm. It is Known That Payments Are Being Made Through UPI For Every Small Item. However, This Facility is Only Available To Residents Of India. Non-resident Indians living abroad are Unable To Make Payments When They Return Home And Are Requesting That This Facility Be Provided To Them. National Payments Corporation Of India Has Taken A Key Decision In This Order. UPI Payments Will Be Made Available, To NRIs Abroad. However, Here Is The Twist.
UPI Payments: The Unified Payments Interface facility was launched in 2016. Even though no one showed much interest in the early days, now a days UPI payments are being made in small shops and roadside tea shops. However, it is not possible to send money to people abroad and receive payments from them. Lakhs of our country have gone abroad for jobs. National Payments Corporation of India (NPCI) has taken a crucial decision for Non-Resident Indians abroad. Soon they will be able to use our UPI through their international mobile number. Those who wish to use UPI while staying abroad must have NRE and NRO accounts in Indian banks.
Also Read – What is UPI And How Does It Work In 2023? Top Secret of UPI
Expansion To These 10 Countries First
NPCI has selected 10 countries for Indians who have non-resident accounts to enter the UPI platform. It includes Saudi Arabia, Singapore, Canada, Hong Kong, Oman, Qatar, USA, United Arab Emirates, United Kingdom and Australia. Officials said the decision will further advance the rapidly growing UPI ecosystem in India.
UPI Payments Record Last December
According to the details provided by NPCI, UPI payments were recorded at a record level in December last year. Transactions worth Rs 7.82 billion were done with a growth of 7.12 percent in a single month. In 2022, a total of 74 billion transactions worth Rs 125.94 trillion were made through UPI, NPCI said.
Why UPI Payments Abroad?
There are lakhs of Indians living abroad. Such people use the phone numbers there. Due to the presence of international mobile numbers, even if you want to use UPI payments whenever you come to India, you cannot use it. Requests from NRIs to provide UPI payments have been pouring in for a few days now. NPCI has taken this decision in this context. However, the latest decision will not allow anyone across the country’s borders to make payments. Special opportunity is being given to NRIs without any irregularities. NRIs having NRE or NRO accounts in Indian banks can make UPI payments with their international mobile number as well. However, UPI cannot be accessed by those who are not associated with banks here. By April 30 this year, they should link their mobile number with their banks.
India’s UPI is Global
India’s prestigious Unified Interface Payments (UPI) has gained great popularity within a short period of time. UPI payments are taking place at a record level. Due to this, the Indians there want to provide this facility to themselves abroad. Countries like Singapore, Bhutan, UAE, Oman are looking to adopt our UPI method. In this order, India is continuing discussions with the respective countries. There is no doubt that the latest decision taken by NPCI will help India’s UPI to become global. Experts say that once it becomes available, it will usher in a new chapter in digital payments worldwide.
