New Delhi: The innovative “UPI Oneworld” service, which enables foreigners to seamlessly make payments through the Unified Payments Interface (UPI) in India, is set to transition into a permanent and accessible system. Launched as part of the G20 initiative, this groundbreaking facility is poised to redefine how international travellers manage their transactions within the country.
Traditionally, foreign visitors to India have conducted transactions by either exchanging their foreign currency for Indian rupees or utilising various card payment methods. However, with the advent of “UPI Oneworld,” foreign travellers can now streamline their financial interactions in a more convenient and efficient manner.
The UPI system can be utilized by foreigners from the moment they arrive in India, including at the airport before boarding their flights. Effectively functioning as a digital wallet on their mobile devices, foreign nationals can capitalise on this service after completing a straightforward Know Your Customer (KYC) process by submitting their passport and visa details. Once this step is accomplished, any foreign currency or card can be linked to their UPI wallet, ensuring a seamless and secure payment experience.
Even the smallest of shops and vendors in India now accept payments through UPI, allowing travellers to effortlessly scan QR codes and make payments without the hassle of currency exchange or card swiping. Presently, this service is available at more than eight major airports across the country, further enhancing the convenience factor for international visitors.
The introduction of “UPI Oneworld” was a significant highlight during the G20 summit, with foreign delegates being granted the opportunity to experience the Reserve Bank of India’s (RBI) digital currency, known as the e-rupee, on their smartphones. Several leading banks, including Canara Bank and ICICI Bank, have developed specialised applications to facilitate these digital currency transactions. Canara Bank, for instance, generously offered G20 delegates a complimentary e-Rupee voucher valued at Rs 2,000.