New Delhi: The UPI One World app launched recently by the National Payments Corporation of India (NPCI) is a digital wallet service for inbound international travellers to India which aims to simplify digital payments. This service is especially useful for people from G20 countries who are not Indian residents.
UPI One World provides a prepaid card connected to the Unified Payments Interface (UPI) which lets visitors pay digitally in stores across India. It is valid in stores that accept UPI payments. The service means you don’t need cash or worry about exchanging money. It’s an easy way to explore India, according to NPCI.
How to use UPI One World wallet?
To use the UPI One World wallet, inbound foreign travellers can visit authorised places that issue prepaid cards.
These places can be found at airports, hotels, and special spots for exchanging money.
To receive the card these travellers must furnish KYC using valid passport and visa
The service will also be offered at Bharat Mandapam, where the World Heritage Committee meeting will take place during July 21-31, 2024.
International travellers can use the UPI One World app to pay at stores by scanning QR codes.
If there’s any money left, they can transfer it back to where they paid from, following foreign exchange rules.
NPCI is thrilled to rollout UPI One World to all* international travellers visiting India. With this development foreign visitors will have the opportunity to immerse themselves in India’s rich culture, cuisine, and many diverse experiences with the ease of UPI payments.
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— NPCI (@NPCI_NPCI) July 23, 2024
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UPI One World wallet features
Some of the important features of the UPI One World wallet include:
You can load money using foreign currency cash or other payment methods.
You can check your balance instantly using the PPI-UPI app.
Unused money can be refunded according to foreign exchange rules.
The launch of UPI One World involves the following stakeholders:
NPCI
IDFC First Bank
Transcorp International overseen by the Reserve Bank of India
UPI One World wallet is targeted at inbound foreign travellers. It provides them the power of seamless digital transactions with real time foreign currency exchange mechanism. Business Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
