Google Pay signs deal with NPCI to expand UPI payments outside India

Google India Digital Services and NPCI International Payments Limited (NIPL) have signed an agreement that will help expand UPI payments to countries outside India. The Memorandum of Understanding (MoU) will enable Indian travelers to make payments in other countries through Google Pay (also known as GPay), eliminating the need to carry cash or resort to international payment gateways.

“The MoU has three major objectives. First, it wants to widen the use of UPI payments to travelers outside India, enabling them to easily transact abroad. Second, the MoU aims to help other countries set up digital payment systems like UPI, which will provide 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 exchanges,” Google Pay said in a statement.

The deal focuses on simplifying the process of remittances between countries using the UPI infrastructure, thereby simplifying cross-border financial exchanges.

Ritesh Shukla, CEO, NIPL, said, “This strategic partnership will not only simplify overseas transactions for Indian travelers but will also allow us to extend our knowledge and expertise of operating a successful digital payments ecosystem to other countries.”

The 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 and have access to UPI operated from India. There will be an option to use apps. Including Google Pay. This development will also help simplify remittances by reducing dependence on traditional money transfer channels.

Diksha Kaushal, Director, Partnerships, Google Pay India, said, “UPI has shown the world the transformation that can occur across economies with the introduction of interoperable, population-scale digital infrastructure and how each economy that joins such a network can benefit from Will create impact beyond.” of parts. We are very excited about the scope of this collaboration.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)