The Reserve Bank of India (RBI) has announced that international travellers from G-20 nations will be able to make local payments using Unified Payments Interface (UPI) while in India. The facility is available at select international airports of New Delhi, Mumbai and Bengaluru, and at meeting venues. The travellers will be issued prepaid payment instruments (PPI) wallets which will be linked to UPI for making payments. The move is aimed at facilitating cheaper and safer cross-border remittances and benefit members of the Indian diaspora in Singapore. The linking of Singapore’s PayNow and India’s UPI is the first cross-border person-to-person payments link for India and second for the city state.
Today: December 10, 2023