NPCI launches ‘UPI One World’ wallet service for all foreigners visiting India

By Gloria Mathias

National Payments Corporation of India (NPCI) has announced the introduction of the ‘UPI One World’ wallet for inbound travellers from all nations visiting India.

This initiative is designed to provide international visitors with a seamless, real-time digital payment experience, making it easier to explore India’s cultural wonders and vibrant landscapes. Additionally, this service will be available to the esteemed delegates attending the World Heritage Committee meeting in New Delhi from July 21-31, 2024.

Through this development, delegates, as well as other foreign visitors, will have the opportunity to immerse themselves in India’s rich culture, cuisine and many diverse experiences with the ease of a Unified Payments Interface (UPI) payments.

UPI One World wallet, first introduced during the G20 summit hosted by India last year, will be available to people visiting from many more countries. Foreign visitors can use the wallet to experience the convenience and security of the “Made in India” technology. This eliminates the need to carry cash and the complexities of foreign exchange transactions.

The UPI One World wallet can be availed through authorized PPI issuers at airports, hotels, designated money exchange locations and other touchpoints, following a complete KYC process based on a passport and valid visa. Arrangements will also be made to make these wallets available at Bharat Mandapam in New Delhi, the venue of the World Heritage Committee meeting, for the benefit of delegates. Once issued, the wallet can be loaded, either in cash or through other payment modes.

International travellers can use the UPI One World app to make payments at merchant locations by simply scanning the QR codes. In accordance with foreign exchange regulations, any unused balance can be transferred back to the original payment source. This enablement has been made possible by the joint efforts of NPCI, IDFC First Bank, and Transcorp International under the guidance of the Reserve Bank of India.

NPCI spokesperson said, “We are thrilled to offer UPI experience to the international guests visiting India through UPI One World. This move aims to enhance the experience for visitors by equipping them with UPI, the most preferred payment choice among Indians. International travellers can organize their financial needs using UPI One World. By enabling foreign travellers to experience the real-time payments system developed by India, we are taking a significant stride towards creating a more interconnected global digital payments ecosystem.”