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PhonePe, India's popular digital payments and financial technology company, which has a huge base in the country for UPI based payments has now launched for the first time ever a new service for cross-border UPI payments, under the tag of UPI International.

Initially it is only being offered in a few countries. The apps' users will now be able to use their Indian bank accounts for payment purposes at merchant outlets in the UAE, Nepal, Singapore, Mauritius, and Bhutan.  This makes PhonePe, the first digital payment platform in this category to integrate UPI International. Until now, Indian users have been using  foreign currency in cash or bought a forex card when they visit abroad. According to PhonePe, the users can also make payments in foreign currencies and this will be debited directly from their India based bank accounts, on the lines of international debit cards.

UPI International, which has been introduced by the cross-border arm of the National Payments Corporation of India (NPCI International Payments Limited), offers UPI transactions for India's diaspora living abroad. NPCI also announced its plans for rolling out UPI International to many more foreign countries this year 2023. This marks a major step and is also seen as a game-changer that completely transforms the way Indians make purchases at merchant outlets abroad.


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