The Reserve Bank of India has given the permission to all arriving foreign travelers to use UPI Payment for their retail payments while they are in India.
This facility will initially allow to the inbound travelers from G20 countries reaching at select International airport only, according to the RBI Governor Shakti Kanta Das.
Talking about the RBI permission, Rajsri Rengan, who is the Head of Banking and Payments, India and Philippines, FIS, said: “This promulgation is a great initiative by the RBI. Travelers who buy goods in the country will now be able to use UPI while carrying out P2M transactions. This step of RBI will improve the digital payments in country and also gives a better payment experience”.
A short time ago, UPI payment access to Non- President Indians (NRIs) carrying international phone numbers linked to their NRE/ NRO (Non Resident External and Non Resident Ordinary) accounts was allowed.
This benefit will shortly be available to all inbound travelers, beginning with foreign travelers from G20 countries. On 8th February, i.e. today this facility is available to the travelers from G20 countries.
How this Gonna Work?
- Till now, only travelers coming from G20 countries can avail this UPI payment option.
- This facility is only provided to some selected international airports.
- In the coming times, it will be enabled all around all other entry points in India.
RBI’s Statement
- UPI has become an omnipresent payment option for merchant electronic payments in the country. An initiative has recently been made to allow UPI access to non- resident Indians who carry international phone numbers. And today the same facility is now allowed to all inbound travelers to India and UPI for their merchant payments (P2M) while they are in India.
In start, the benefit will be extended to travelers coming from G20 countries, reaching at a few international airport. After sometimes, this facility will be allowed to other entry points in India.
