The Unified Payments Interface (UPI), India's marquee payment system, is truly going global. Starting this September, Indians will be able to use UPI to pay in France and this will be launched at the iconic Eiffel Tower in Paris.
More than 20 countries have started or are in the process of starting to accept payment via UPI through cross border agreements with India.
With France accepting payments via UPI, many developed countries are now on board.
In July 2021, Bhutan became the first country to start accepting UPI after NPCI announced a tie up with the Royal Monetary Authority of Bhutan.
Starting February 2021, people living in Singapore and India can instantly transfer money to each other via UPI and PayNow.
On 26 January 2022, UK-based fintech startup Transact365 enabled UPI for global merchants with real time currency conversion facility.
India and Russia are engaged in high-level discussions to start the acceptance of UPI payments soon.