PhonePe becomes first Indian fintech to allow international UPI transactions

Mumbai, Feb 8 (KNN) Fintech giant PhonePe has now enabled payments abroad which makes it the first fintech platform in India to provide this service.

PhonePe which has the highest share in UPI transactions has now allowed Indians travelling abroad to pay foreign merchants using UPI.

Similar to international debit card transactions foreign currency will be deducted from the user’s bank account under this facility.

PhonePe said all international merchant outlets in the UAE, Singapore, Mauritius, Nepal and Bhutan that have a local QR code are supported. 

The facility is expected to roll out in more countries.

Rahul Chari, Co-founder and CTO of PhonePe, said, “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 gamechanger and will completely transform the way Indians traveling overseas pay at merchant outlets abroad.”

The bank account can be activated for UPI international on the app.

It can either be done at the location where the user wishes to make the payment or prior to the trip.

With this facility, a customer will not need a credit card or forex card for making payments outside India.  (KNN Bureau)