New Delhi: Google India Digital Services and NPCI International Payments Ltd (NIPL) have formalized a Memorandum of Understanding (MoU) with the goal of expanding the accessibility of UPI payments beyond India. This strategic move is set to empower Indian tourists to utilize UPI seamlessly with Google Pay on a global scale.
The MoU outlines three primary objectives. Firstly, it seeks to widen the usage of UPI payments for Indian travelers abroad, offering them a convenient and familiar transaction method globally.
Secondly, the collaboration aims to facilitate the establishment of UPI-like digital payment systems in other countries, providing a model for streamlined financial transactions. Lastly, the partnership will simplify cross-border remittances by leveraging the robust UPI infrastructure.
This initiative is poised to enhance the global acceptance of UPI, granting foreign merchants access to Indian customers. No longer restricted to foreign currency or credit/forex cards, Indian tourists can now opt for UPI-powered apps, including Google Pay, for their digital payments worldwide.
Deeksha Kaushal, Director, Partnerships, Google Pay India, expressed enthusiasm about the collaboration, emphasizing its contribution to simplifying and securing payment processes. Kaushal stated, “This collaboration is another step towards our commitment to making payments simple, safe, and convenient.”
Ritesh Shukla, CEO of NPCI International Payments Limited (NIPL), echoed the excitement, emphasizing the dual benefits of simplifying foreign transactions for Indian travelers and sharing digital payments expertise with other countries.
The global expansion of UPI signifies a transformative stride in international commerce, promising a seamless, secure, and cost-effective payment experience for both merchants and customers globally.
