UPI Service: The demand for India’s Unified Payment Interface (UPI) is continuously increasing in countries around the world. Recently UPI has been launched in Sri Lanka and Mauritius, after which people can pay bills ranging from coffee to buying a TV through UPI in a jiffy. National Payments Corporation of India (NPCI) runs the UPI service. Due to this tie up, now all the countries of the world are also adopting this payment system.
How will UPI work
Now people have many questions in their minds regarding the launching of UPI and its use in foreign countries. Many people are wondering how they can use UPI abroad. If you have the same question in your mind then you do not need to worry, your UPI app will work abroad also, you just have to select UPI International and activate the international transaction of your bank. In this, the bank may charge some forex for international payment.
How will money be transferred abroad through UPI?
Now the question is how those people who live abroad can use UPI. For such people, National Payments Corporation of India (NPCI) ties up with one of the companies of that country. Through whose server the entire payment is made. With this, UPI transactions are done easily. Similarly, NCPI has signed an agreement with PayNow of Singapore, through which virtual payment will be done, for this you will only have to scan and enter your PIN.
North America, Europe and China. Payment systems like Alipay and WeChat Pay are used in Loop Network. Now UPI is also increasing its influence in countries around the world and is ready to compete with such payment systems. Till now UPI has been launched in a total of seven countries of the world. Which includes countries like France, UAE, Singapore, Nepal, Sri Lanka, Bhutan and Mauritius.
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