PhonePe launches International UPI for payments to foreign merchants

In a first, Indian Fintech company PhonePe launched its International UPI feature, making transactions to foreign merchants more convenient.

The newly launched provision by PhonePe, which sees the most number of transactions in India, will enable Indian UPI account holders to carry out transactions abroad with foreign merchants in the merchants’ home currency.

Prior to this provision, payments to foreign merchants would be made through international credit or forex cards, but with the feature, users will now be able to make payments in foreign currencies, the amount of which would be deducted through the bank account linked to the user’s UPI.

“UPI International is the first major step in letting the rest of the world experience UPI, too. I am sure this launch will prove to be a game-changer and will completely transform the way Indians travelling overseas pay at merchant outlets abroad,” stated the co-founder and CTO of PhonePe, Rahul Chari, about the newly unveiled feature.

The feature will be supported by merchants in Nepal, Bhutan, UAE, Mauritius, and Singapore for now, with more countries expected to be added to the list soon.