The National Payments Corporation of India (NPCI) unveils ‘UPI One World’ Wallet for Global Travelers in India. This new initiative aims to provide a seamless digital payment experience through the Unified Payments Interface (UPI), allowing visitors to explore India’s cultural and scenic treasures effortlessly. The service will also be available to delegates at the World Heritage Committee meeting in New Delhi from July 21-31, 2024.
UPI, a popular mobile-based payment system in India, facilitates instant transactions for both personal and merchant payments. With the UPI One World wallet, foreign travelers can enjoy India’s rich culture, cuisine, and other experiences without the hassle of carrying cash or dealing with foreign exchange.
Originally launched during the G20 summit hosted by India last year, the UPI One World wallet will now be accessible to visitors from many more countries. Travelers can obtain the wallet through authorized Prepaid Payment Instrument (PPI) issuers at airports, hotels, money exchange locations, and other designated points after completing a KYC process with their passport and visa. Special arrangements will be made to distribute these wallets at Bharat Mandapam, the venue for the World Heritage Committee meeting.
The UPI One World app allows international users to make payments by scanning QR codes at merchant locations. Any unused balance can be transferred back to the original payment source, following foreign exchange regulations. This development is a collaborative effort involving NPCI, IDFC First Bank, and Transcorp International Limited, with oversight from the Reserve Bank of India.
NPCI’s spokesperson highlighted that the introduction of UPI One World aims to enhance the experience for international visitors by offering them a payment method preferred by Indians. This initiative underscores India’s leadership in global digital payments and demonstrates the success of India’s Digital Public Infrastructure (DPI). In June 2024 alone, UPI processed nearly 14 billion transactions worth INR 20.07 trillion (approximately USD 240 billion), handling about 80% of all digital payment transactions in India and establishing itself as one of the largest real-time payment systems worldwide.
