UPI Beyond India
During our vacation in Singapore at the end of last year, I saw this banner for UPI based payment systems in their subway: I guess that banner was a bit premature. After all, the linkage of UPI with Singapore’s PayNow happened only recently - It allows for real-time payments and reduces the transaction costs with existing methods of money transfer between the two countries. Next up in the line for UPI integration are UAE, Indonesia, and Mauritius. ~~ Back home in India, while Indians can use UPI for payments, foreigners visiting India can’t. Until recently, that is. For travellers from the G-20 countries (the 20 biggest economies in the world), India has now made UPI a possibility . Visitors from those countries can apply for PPI wallets (Prepaid Payment Instruments) at the airport (only Delhi, Mumbai, and Bangalore for now), and then they too can “enjoy the convenience of UPI payments at over five crore merchant outlets across the country that accept...