Global Digital Payment Blueprint: UPI Integration with Google Pay to Pave the Way for Seamless Transactions Abroad
Google India Digital Services and NPCI International Payments Ltd (NIPL) have inked an MoU to broaden the scope of UPI payments globally. The agreement aims to enable Indian tourists to utilize UPI seamlessly with Google Pay on a global scale.
The MoU between Google India Digital Services and NPCI International Payments Ltd (NIPL) has three primary objectives. Firstly, it aims to expand the utilization of UPI payments for travelers outside India, streamlining convenient transactions during their international travels.
The MoU’s second objective involves facilitating the establishment of UPI-like digital payment systems in other countries, providing a model for seamless financial transactions. Additionally, it aims to simplify the process of cross-border remittances by leveraging the UPI infrastructure.
This initiative is expected to boost UPI’s global acceptance, enabling foreign merchants to access Indian customers who can now use UPI-powered apps like Google Pay for international transactions.
Deeksha Kaushal, Director of Partnerships at Google Pay India, expressed enthusiasm about the collaboration, highlighting its role in making payments simple, safe, and convenient.
Deeksha Kaushal, Director of Partnerships at Google Pay India, expressed enthusiasm about the collaboration, stating, “We are delighted to support NIPL towards expanding the reach of UPI to international markets.
Google Pay has been a proud and willing collaborator to NPCI and the financial ecosystem, under the regulator’s guidance, and this collaboration is another step towards our commitment to making payments simple, safe, and convenient.
UPI has demonstrated to the world the step change that happens in economies with the introduction of interoperable, population scale digital infrastructure and each economy that joins such networks will create impact beyond the sum of parts. We are very excited about the scope of this collaboration.”
Ritesh Shukla, CEO of NPCI International Payments Limited (NIPL), shared excitement about the collaboration, highlighting its potential to simplify foreign transactions for Indian travelers. He emphasized that the partnership will not only benefit Indian travelers but also enable them to share their knowledge and expertise in operating a successful digital payments ecosystem with other countries.
The global expansion of UPI is portrayed as a transformative step in international commerce, offering a seamless, secure, and cost-effective payment experience for merchants and customers globally.
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