Google Pay Teams Up with NPCI to Extend UPI for Global Transactions
Google India Digital Services and NPCI International Payments have entered into a Memorandum of Understanding (MoU) to extend UPI payments to international destinations. This collaboration aims to empower Indian travelers to use Google Pay for transactions abroad, eliminating the necessity for cash or reliance on international payment gateways. Additionally, the agreement outlines plans to create UPI-inspired digital payment systems in other countries, with the overarching objective of delivering a smooth and seamless financial transaction experience.
Deeksha Kaushal, Director, Partnerships, Google Pay India said, “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".
Kaushal highlighted that the introduction of interoperable, population-scale digital infrastructure, as demonstrated by UPI, has underscored a substantial transformation in economies on a global scale. When economies integrate into such networks, the resulting impact surpasses the cumulative effect of their individual components.
The partnership will also focus on making the process of remittances easier between countries by making use of the existing Unified Payments Interface (UPI) infrastructure. This might also help accelerate the growth of UPI as an international payment method and offer foreign sellers access to Indian customers, who are currently limited by foreign currency, credit and forex cards. By increasing UPI’s cross-border interoperability, the MoU aims to ease doing business and making payments for Indian travellers as well as people from other countries who are coming to India.
