RBI launches UPI payments for international travellers
The Reserve Bank of India (RBI) has launched a new initiative that will allow international travellers to make payments using the Unified Payments Interface (UPI) while they are in India.
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The Unified Payments Interface (UPI) is a real-time payment system developed by the National Payments Corporation of India (NPCI). It enables instant money transfers between bank accounts using a mobile device.
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UPI Payment System
With the new initiative, international travellers can now use the UPI payment system to make payments while in India. This means travellers can use UPI on international airports – Bengaluru, Mumbai, and New Delhi.
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Benefits for International Travellers
Using the UPI payment system, international travellers can make transactions easily and conveniently. They can pay for their purchases directly from their bank accounts.
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Convenience
The UPI payment system is highly secure, and transactions are processed using two-factor authentication. This means that international travellers can make payments with confidence, knowing that their financial information is protected.
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Security
The UPI payment facility for international travellers visiting India is initially available to travellers from G-20 countries only. However, it is expected that the facility will be extended to other international travellers soon.
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Who Can Avail of this Facility?
The UPI payment facility will be initially available at select international airports – Bengaluru, Mumbai, and New Delhi.
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Where Will the Facility be Available?
With the launch of the UPI payment system for international travellers, making transactions in India has become hassle-free. The RBI's initiative will not only provide convenience and security to international travellers but also widen the scope of the UPI payment system in the country.