New Delhi. Google India Digital Services and NPCI International Payments Limited (NIPL) have signed an agreement that will help expand UPI payments in countries outside India.
Under the Memorandum of Understanding (MoU), Indian travelers will now be able to make payments through Google Pay, known as GPay in other countries. This facility will eliminate the need to carry cash or resort to international payment gateways.
Google Pay said in the statement, ‘This MoU has three main objectives. First, it wants to widen the use of UPI payments for travelers outside India, allowing them to easily transact abroad. Second, the MoU aims to help other countries set up digital payment systems like UPI, which will offer a model for seamless financial transactions. Ultimately, it focuses on simplifying the process of remittances between countries using the UPI infrastructure, thereby simplifying cross-border financial transactions.’
Ritesh Shukla, Chief Executive Officer (CEO), NIPL, said, ‘This strategic partnership will not only simplify overseas transactions for Indian travelers but will also allow us to expand our knowledge and expertise on operating a successful digital payment system to the rest of the countries. Will let me do it.
This MoU will strengthen UPI’s global presence, providing foreign merchants access to Indian customers who no longer have to rely solely on foreign currency and/or credit or foreign currency cards to make digital payments. They will also have the option to use UPI powered apps including Google Pay from India.