Good news for international travellers who are willing to visit India. Finally, UPI One World has been launched for travellers which is a new digital wallet, designed to simplify payments across the country. This initiative is a collaborative effort by the National Payments Corporation of India (NPCI), IDFC First Bank, and Transcorp International Limited, with guidance from the Reserve Bank of India.
This innovation enables tourists from worldwide to explore India without the hassle of carrying bulk cash or dealing with foreign exchange now and then during their travel.
UPI One World
UPI One World was initially introduced during the G20 summit which was hosted by India last year (2023). The announcement has been implemented and is now expanding its reach to visitors from numerous countries. This digital payment system provides the security and convenience of "made in India" technology, enabling travellers to make cashless transactions seamlessly.
How does UPI One World work?
International travellers could use the ‘UPI One World’ app to make payments at various merchant locations by scanning the QR codes. The app will further ensure that any unused balance from the wallet can be transferred back to the original payment source, following the foreign exchange regulations of India.
Availability and access
The UPI One World wallet is available via authorized Prepaid Payment Instrument (PPI) issuers at hotels, airports, designated money exchange locations, and other touchpoints.
Visitors have to complete their full KYC (Know Your Customer) process by using their passport and valid visa to access the wallet. Special arrangements are being made to provide these wallets to delegates at Bharat Mandapam in New Delhi during the World Heritage Committee meeting (July 21-31, 2024).
Convenience for tourists
- With the introduction of the new UPI One World app, one will be able to travel cashfree or deal with foreign exchange.
- The new application will enable the user to easily pay for their purchases at shops and restaurants by simply scanning a QR code.
- The new app is available and could be used by all the visitors/tourists of India.
- Delegates at the World Heritage Committee meeting could also benefit from UPI One World, with special arrangements for wallet acquisition at the meeting venue.
- The UPI One World wallet is issued by authorized providers at airports, hotels, and money exchange locations- enabling to secure verification process to ensure user safety.
Loading and using the wallet
Travellers can load their digital wallets with either cash or other payment methods (internet banking).
Any leftover funds could be transferred back easily, to the original payment source upon leaving India, under foreign exchange regulations.
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