PhonePe: This news had come long ago that now UPI can be used abroad as well. Work on this project was going on. Now PhonePe has become the first fintech app to provide UPI payment facility abroad. PhonePe app has announced ‘UPI International’ payment facility through its payment app. This simply means that Indian users can now easily make payments abroad through their smartphones. Now we Indians will not have to struggle for payment in other countries. Till now no other payment app like Paytm allows UPI payments to foreign merchants. In such a situation, this step of PhonePe is quite a relief for many people. Let’s read the details in the news.
PhonePe extended UPI support in these countries
The new update of PhonePe will allow users to make payments to foreign merchants using UPI instantly. This will make it convenient to pay internationally. PhonePe has extended its UPI support to UAE, Singapore, Mauritius, Nepal and Bhutan among countries that have local QR code facility. With this facility of PhonePe, users will be able to pay in foreign currency directly from their Indian bank. Just like you do with international debit cards.
How did Indians make payments earlier?
PhonePe has introduced UPI International. Now we will be able to make payments abroad directly from our Indian bank account. The question is, before this, how did Indians make payments abroad? Actually, before the introduction of this facility or till now, foreign currency is used to make payments to Indians at international stores. Apart from this, some people also use their credit or forex cards.
This facility related to UPI is currently limited to the countries mentioned above. However, National Payments Corporation of India (NPCI) and International Payments Limited (NIPL) have planned to expand this facility to more countries in future. This will make it easier for Indians to make payments while traveling.
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