UPI for International Payments: Online payment facilities through UPI are very famous in India and most of the citizens are using UPI mobile applications for their daily life transactions. The evolution of UPI increased the online payment culture in India and now India has become the number one country in the world for using online payment facilities according to international reports. Now UPI is moving one step forward to the international market and you can make transactions out of the country also by using a UPI ID. So if you are also using the UPI ID for accepting payments for your E-Commerce business or any other purpose then you can read this article “UPI for International Payments” where we will share with you the latest announcement on the government upgrade UPI for international users & How to make International UPI Payments.
Unified payment interface which is also famous as UPI is one of the fastest transaction procedure systems in the country where you can pay the amount through online mode within a few seconds. Due to the fastest transaction procedure of UPI, approximately all E-Commerce people are using it for accepting online payments & UPI for International Payments. If you are using UPI for online payment then now you can also use it for international transactions i.e. now you can use UPI for International Payments. The authorities have informed us about this initiated through a video interview where they have mentioned that UPI will help for international transactions as it will not include personal details of the sender including bank account number, and other details so they can directly pay the payment by using specific UPI ID only.
Features of UPI for International Payments 2024
- The international UPI will provide one one-step payment method for international transactions in India as they are not required to provide additional information of the bank account and other tax information.
- However, there is a limitation of 2 lakh transactions by using the international UPI method. So if you want to get more than Rs 2 lakh rupees then you have to switch on another traditional transaction method.
- Currently, the facility of international UPI payment is available (UPI for International Payments) only in selected countries including Nepal, Bhutan, Oman, Abu Dhabi, France, Mauritius, and Sri Lanka. So you can use UPI payment in this country accordingly. However third-party mobile applications of UPI in India including Phonepe and Google Play or continuously in touch with other country transaction mobile applications and collaborating to implement this scheme
- If you are using UPI in India then you do not need to pay any additional charges for using UPI ID for payment. But if you use UPI ID for international transactions (UPI for International Payments) then you have to pay additional charges to the country and the charges for currency exchange will also be deducted from the actual amount that you have sent using UPI ID. So if you are using other traditional methods for currency exchange and transferring money internationally then you should compare the service charges of other companies with UPI and can pay your money accordingly.
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How to Activate International UPI ID 2024?
The international UPI ID facilities are available on Phonepe and Google Pay mobile applications. Other banks are also providing the same facility of UPI for International Payments in their mobile applications. So if you are already using the UPI payment app then you have to open it on your smartphone and follow the following procedure:
- Now you have to click on your profile picture where you will able to see UPI settings
- Under the setting, you will find an “International UPI activation link”.
- Now if you are using multiple bank accounts in the mobile application then have to select any bank account to link with an international UPI ID.
- You will be asked to enter your UPI pin for your verification.
- Once you complete the UPI for International Payments Registration you can use your UPI ID for international transactions.
HOW TO MAKE INTERNATIONAL UPI PAYMENTS?
The procedure to pay money by using UPI to any other country is very easy and similar to the procedure of paying money to any other UPI user. For UPI for International Payments, Firstly you have to scan the QR code of UPI ID for the person and scan it with your mobile application, so it will scan UPI ID and you can enter the amount which you want to pay. After that type your UPI pin and the money will be transferred to other person through UPI id.
Countries where UPI payments are available
To make transactions easier for Indians living abroad, the Indian government has made UPI payments available in several international countries such as France and the UAE. The UPI for International Payments service is also available to Non-Resident Indians (NRIs), facilitating seamless international transactions.
The countrie’s List where UPI International payments are available:
- France,
- Bhutan,
- Nepal,
- Oman,
- UAE,
- Malaysia,
- Thailand,
- Philippines,
- Vietnam,
- Singapore,
- Cambodia,
- Hong Kong,
- Taiwan,
- South Korea,
- Japan,
- United Kingdom and
- Europe
Indians traveling to these countries can easily conduct online transactions using the UPI platform. If you find yourself in a country where India’s Unified Payments Interface (UPI) is accessible, you can use popular UPI payment apps like PhonePe, Amazon Pay, Google Pay, Paytm and others for seamless transactions. These applications allow you to make digital payments using UPI ID or connected bank account number, ensuring a convenient and secure way to make payments while you are abroad.
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Steps to Make International UPI Payments With Various Apps
UPI for International Payments: For international UPI transactions:
STEP 1: Download or open your UPI-enabled app like Google Pay GPAY, PhonePe, or Paytm, supporting international UPI transactions.
STEP 2: Register your Indian bank account within the app.
STEP 3: Link your beneficiary’s details, including their bank account number, IBAN, BIC, transfer amount, and currency.
STEP 4: Upon completion, receive a confirmation message.
Note: Transactions may incur fees like conversion fees and foreign exchange fees. The system’s international availability is slowly expanding.
UPI for International Payments: For NRIs using UPI :
STEP 1: Download and open UPI-enabled apps like PhonePe, Google Pay, or Paytm on your phone.
STEP 2: Register your NRE or NRO account.
STEP 3: Provide your Indian mobile number and bank account details.
STEP 4: Once linked, now use Your UPI for payments to Indian UPI IDs.
STEP 5: Use UPI for payments at Indian merchant outlets.