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Google Pay signs deal with NPCI for global expansion of UPI

The deal between the two entities looks to increase use of UPI outside India by travellers, ease the process of cross-border remittances, and establish a similar digital payment system in other countries.

Google Pay has signed an agreement with the international arm of the National Payments Corporation of India (NPCI) to expand UPI globally, NPCI said in a press release dated January 17.

The deal signed between the two entities has the following objectives:

  1. Broaden the use of UPI for travellers outside of India by enabling them to make UPI payments to merchants abroad via Google Pay. NPCI is working to increase UPI acceptance in various countries through partnerships with payment companies and regulators abroad. Here is a full list of countries where UPI is making headway.
  2. Ease the process of cross-border remittances by utilizing the UPI infrastructure, reducing dependence on conventional money transfer channels. Currently, Singapore and India have linked their remittance systems for cross-border UPI payments.
  3. Establishing a UPI-like digital payment system in other countries.

“UPI has demonstrated to the world the step change that happens in economies with the introduction of interoperable, population-scale digital infrastructure and each economy that joins such networks will create an impact beyond the sum of parts. We are very excited about the scope of this collaboration.” — Deeksha Kaushal, Director, Partnerships, Google Pay India

PhonePe is the other major UPI app that has signed deals with NPCI to increase UPI’s international presence. The app already allows users to make UPI payments in Bhutan, Singapore, Nepal, UAE, and Mauritius at select merchants.

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