Mumbai: The National Payments Corporation of India (NPCI) launched UPI One World wallet service. The UPI One World wallet service has been launched for non-resident Indians (NRIs) and international travellers visiting India.
The service was first announced last year during the G20 summit which India hosted. It will allow travellers who do not have an Indian bank account to access the Unified Payments Interface (UPI) system and make payments using it. The initiative was launched by NPCI in collaboration with IDFC First Bank and Transcorp International Limited under the guidance of the Reserve Bank of India (RBI).
Travellers visiting India will be able to make secure digital payments and transact with merchants and vendors across the country with the UPI One World wallet. With the UPI One World wallet service, foreign travellers and NRIs will be able to download a Prepaid Payment Instrument (PPI)-UPI app which will allow them to scan any merchant QR codes with their smartphone’s camera to make payments.
They can also transact online with their UPI ID. The UPI One World wallet can be used at merchant stores, hotels, and restaurants, as well as for online shopping, entertainment, transportation, travel booking, and more.
To avail of the service, users will have to get the PPI-UPI app from authorised issuers across the country. Once the app has been issued, travellers can load up the app with their desired amount in INR. Any unused amount will be transferred back to the origin source, as per foreign exchange regulations.
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How to access UPI One World service:
Download the issuer app and sign in.
Complete the Know Your Customer (KYC) process by verifying passport, valid visa, and other information physically at the Issuer Counter.
Once completed, the individual will be issued UPI One World on their international mobile number.
Travellers can then load up the app with INR value by exchanging foreign currency at the issuer counter or by using a credit or debit card.
The app can then be used to make UPI payments.
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