GOOGLE PAY, NPCI PARTNER FOR UPI EXPANSION

Google India Digital Services (P) Limited and NPCI International Payments Ltd (NIPL), a subsidiary of the National Payments Corporation of India (NPCI), have entered into a Memorandum of Understanding (MoU) aimed at extending the impact of Unified Payments Interface (UPI) beyond India's borders.

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The collaboration outlines three key objectives, emphasizing the global expansion of UPI and the facilitation of seamless digital payments internationally.

Firstly, the MoU focuses on broadening the usage of UPI payments for travellers outside of India. This move aims to emG power users to make convenient and secure transactions abroad, reducing their reliance on foreign currency or credit and forex cards.

Secondly, the collaboration aims to assist in establishing UPI-like digital payment systems in other countries. By providing a model for seamless financial transactions, the goal is to contribute to the adoption of similar systems globally, fostering a more connected and interoperable international payment landscape.