The government of India had recently launched the UPI Lite to facilitate low-value transactions via offline mode. The service can be availed to make offline transactions up to ₹200 and has an upper limit of ₹2,000. As per the latest update, NPCI International Payments authority has partnered with global payments services provider Worldline to expand the acceptance of Indian payment modes across Europe. As a result, Indian customers travelling to European nations will be able to pay conveniently at various merchants’ point-of-sale (POS) via UPI as well as RuPay.
UPI And RuPay Payments Will Soon Be Accepted Across Europe
For those unaware, NPCI International Payments is the international arm of the National Payments Corporation of India (NPCI), which is the driver of digital payments here in India. Currently, Indian customers resort to using various international card networks to make foreign payments. The new payment system allows them to use NPCI’s proprietary card payment network that is UPI and RuPay to make international payments.
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The joint statement of the authorities says, “Facilitated via Worldline QR, the company’s universal product for the acceptance of all QR-based payments, the first target markets for NIPL are set to include BENELUX and Switzerland with further plans for expansion, as Worldline QR is rolled out in more European countries”.
The CEO of NPCI International Payments also adds that the partnership will increase mobility of Indians in the continent in the coming years and empower Indian consumers to continue using their preferred payment modes as they travel across Europe. Considering the fact that India is one of the most important tourist markets for Europe, the move will definitely lead to increase in customer-related merchant benefits.
It is worth noting that NPCI’s UPI platform recorded transactions worth $954.58 billion, which roughly translates to ₹78,52,900 crore. Currently, it is the best-performing real-time payment ecosystem in the world. Similarly, 714 million RuPay cards have been issued to date, recording over 1.3 billion transactions.
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