In a growing world, everything is becoming more modern and stress-free for consumers and buyers. India keeps launching more facilitated and user-friendly technologies for users. Unified Payment Interface (UPI) also took a significant step and set up a hassle-free peer-to-peer payment method in India. You can quickly pay anywhere in India with just one click without giving any of your bank account details.
Now, you can pay worldwide using UPI. NPCI companies work hard to enable this service worldwide through collaboration and partnerships. Soon, we will also be able to pay peer-to-peer through UPI globally. Also read: How to make UPI Payments offline.
What Is UPI?
Many of you might already know what UPI payment is. And How It Works. But if you don’t know, let’s look at it.
UPI (Unified Payments Interface) is an instant payment system developed by (NPCI) the National Payments Corporation of India, launched in 2016.
This development aimed to provide users with a hassle-free and stress-free payment system where one can pay through their mobile phones with just one click.
Make UPI Payments Globally
The user can link their UPI account to multiple bank accounts. You don’t have to give your IFSC codes or any bank account details to send or receive the money. Due to its user-friendly interface and speed, the UPI Payment system has succeeded in India.
After its outstanding achievement and successful journey in India, the NPCI decided to take a step further and break boundaries by setting this hassle-free payment worldwide. After hearing this, many businesses and tourists took a sigh of relief.
How To Pay Internationally With UPI?
Unified Payments Interface (UPI) is a digital payment platform where people can pay money through their mobile phones after a successful journey in India. The NPCI launched this payment method globally. Users can now pay globally using the UPI Payment method by screening the QR code.
To pay internationally through UPI, the user needs to activate International Payment on Unified Payments Interface (UPI), which are PhonePe, Google Pay, and the Bhim UPI app.
UPI Fees On Paying International Payment
Paying through UPI throughout India comes with free charges, but using the UPI payment method abroad comes with fees, which the user must pay while paying as the INR currency is converted to dollars.
Since the currency gets automatically converted by the bank, the charges can vary from bank to bank. You can always check the covert rate of INR to Foreign currency on Google to save you from later surprises and losses.
The collaboration of NPCI with foreign countries will not only open hassle-free and stress-free payment for travelers and businesses but will also open the route for international businesses in the coming future, bringing many benefits and business opportunities.
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