New Delhi. UPI One World Wallet service has been launched by the National Payments Corporation of India (NPCI) for non-resident Indians (NRIs) and international travellers visiting the country. The service was first announced last year during the G20 summit hosted by India.
It will allow travellers who do not have an Indian bank account to access and make payments using the Unified Payments Interface (UPI) system. The initiative was launched by NPCI in collaboration with IDFC First Bank and Transcorp International Limited under the guidance of the Reserve Bank of India (RBI).
Announcing this service in a post, NPCI said that passengers coming to India will be able to make secure digital payments with UPI One World Wallet and transact with merchants and vendors across the country. This service will relieve passengers from the hassle of carrying large amounts of cash or making multiple foreign exchange transactions.
With the UPI One World Wallet service, foreign travellers and NRIs will be able to download the prepaid payment instrument (PPI)-UPI app. Users will then be able to scan the QR code of any merchant with their smartphone camera to make payments.
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Travelers can also make online transactions with their UPI ID. NPCI said that UPI One World Wallet can be used for online shopping, entertainment, transportation, travel booking and many such tasks along with merchant stores, hotels and restaurants.
To avail this service, users need to obtain a PPI-UPI app from authorised issuers across the country. Once the app is issued, travellers can load the amount of their choice in INR into the app. Any unused amount will be transferred back to the original source as per foreign exchange regulations. The initiative aims to make travel and stay in India seamless for international visitors.
How to use UPI One World service:
- First download the app provided by the issuer and sign in.
- Complete your Know Your Customer (KYC) process by physically verifying passport, valid visa and other details at the issuer counter.
- Once completed, the individual will be issued UPI One World on his/her international mobile number.
- Passengers can then exchange the foreign currency at the issuer counter or load INR value into the app using a credit or debit card.
- After this the app can be used to make UPI payments.
