What is UPI?
UPI is an instant real-time payment system that facilitates money transfers across multiple bank accounts without revealing any account details. Over the past two years, several countries have started accepting payments through UPI apps.
Which Countries Accept UPI?
Currently, UPI is accepted in:
- Bhutan
- France (for e-commerce)
- Mauritius
- Nepal
- Singapore
- Sri Lanka
- UAE
How Does UPI Work Overseas?
In countries like Sri Lanka and Mauritius, users must first link their bank accounts with a UPI-enabled app. Once linked, they can make payments by entering the recipient’s bank details, transfer amount, and currency.
Recently, UPI was introduced at the Eiffel Tower in Paris, where Indian tourists can now make payments using a UPI-enabled app by scanning a QR code on the Eiffel Tower website.
Singapore became the first country to launch cross-border Person to Person (P2P) payment services with India through a UPI-PayNow linkage introduced in February last year. This allows for quick and cost-effective money transfers between Singapore and India. Some commercial establishments in Singapore have already enabled UPI payments using QR codes.
How to Activate UPI International on PhonePe
- Open the PhonePe app and go to the home screen.
- Click on your profile picture.
- Under Payment Settings, select UPI International.
- Click “Activate” next to the bank account you wish to use for international UPI payments.
- Confirm activation by entering your UPI PIN.
How to Make International Payments Using UPI on Google Pay
- Open the Google Pay app.
- Tap “Scan QR code.”
- Scan the international merchant’s QR code.
- Enter the amount in the payable foreign currency.
- Select the bank account you want to use.
- Confirm the payment by entering your UPI PIN.
With UPI expanding globally, transferring money abroad is becoming more accessible and cost-effective.