By Bhavin Geary
Imagine how nice it would be to travel around India without worrying about the money in your hand. Yeah! It is possible with UPI One World. National Payments Corporation of India (NPCI) introduces the ‘UPI One World’ wallet for inbound travellers visiting India across all nations of the world. It is designed to provide international visitors with a seamless, real-time digital payment with one UPI account. Let us see some details about UPI One World from the following.
UPI One World:
UPI One World wallet was first launched during the G20 summit hosted by India in 2023 and it is now available to people visiting from many more countries. The great advantage is it eliminates the need to carry cash and the complexities of foreign exchange transactions.
International travellers can use the UPI One World app as a UPI money transfer app to make payments at merchant locations by simply scanning the QR codes. The unused balance money will be transferred back to the original payment source, according to the foreign exchange regulations.
Travellers can obtain the wallet from the approved PPI (Prepaid Payment Instrument) provided at locations like airports, hotels and currency exchange offices.
Key Features Of UPI One World Wallet:
Simplified Currency Handling: It eliminates the need for travellers to carry physical cash or deal with complex foreign exchange procedures.
Identity Verification: To use the wallet, users must undergo a thorough Know Your Customer (KYC) process. During this process, they should present their passports and valid visas.
Track your Transaction: With this wallet, you can monitor your spending through the transaction history in the UPI-PPI app.
Steps To Use UPI One World Service:
- Download the UPI money transfer app and sign in.
- Verify the documents like the passport and valid visa are physically at the PPI.
- The UPI One World Wallet will be issued on the international mobile number.
- Load the INR value against the desired amount
- Use the preloaded INR at merchant outlets.
- Transfer the unused balance of money back to the original payment source.
Use UPI To Make Payments Abroad:
Making international payments with UPI is a new and exciting feature that is currently available to selected businesses in certain countries. As UPI acceptance is expanding globally, we can expect that international payments with UPI will become more convenient in the near future.
The UPI transfers within India are generally free, but International payments through UPI come at a cost. When you use UPI to make payments abroad, you will make an international transfer from your bank. The global transfer fee will be charged by your bank.
Summing Up:
As travellers fly to explore India, they will find a warm welcoming environment. UPI One World paves the way for the seamless experience of international travellers who travel around India. UPI money transfer is another innovative step taken for the success of India. It shows the India’s leadership in digital payments. Travellers can now immerse themselves in India’s rich culture. They can enjoy the local cuisine, visit temples and explore markets without financial barriers. It invites travellers to experience the beauty of India.
