PhonePe announced support for international UPI payments on February 7. "This feature allows PhonePe's Indian users travelling abroad to instantly pay foreign merchants using UPI. The current launch supports all international merchant outlets in UAE, Singapore, Nepal and Bhutan that have a local QR code," the company said in its press note. "Users will be able to make payments in the foreign currency directly from their Indian bank – just like they do with international debit cards," the company added. Why does this matter: UPI has big ambitions to go international. We've covered its plan in detail here. This new feature on PhonePe marks a big step in that direction. Allows Indian travellers to do away with foreign currency or forex/credit cards: "Historically, Indian customers needed to use a foreign currency, or their credit or forex cards to pay at international merchant outlets. With this feature, they can now use their Indian Bank account to pay using UPI," PhonePe claimed. But how widely is it accepted: While it sounds like a great feature, it's not clear how many merchants in the countries listed above actually support UPI international. While UPI QR codes might be omnipresent in India, the same is not the case abroad and foreign merchants will have to work with payment solution providers there that support UPI. The National Payments Corporation of India (NPCI) is working with various international partners to achieve this, but without widespread acceptance, Indian travellers will still have to carry foreign currency or debit/credit/forex cards. More countries to…
You can now use PhonePe UPI to pay in UAE, Singapore, Nepal and Bhutan
PhonePe’s new international payments feature allows Indian users traveling abroad to pay foreign merchants using UPI in the local currency.
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