International travellers planning to visit India have a reason to rejoice. The UPI One World digital wallet has been officially launched, offering a simplified and convenient way to handle payments across the country. This initiative is a result of a collaborative effort by the National Payments Corporation of India (NPCI), IDFC First Bank, and Transcorp International Limited, under the guidance of the Reserve Bank of India (RBI).

What is UPI One World?

UPI One World was initially introduced during the G20 summit hosted by India last year (2023). Now, this announcement has come to fruition, expanding its reach to international visitors from numerous countries. This digital payment system embodies the security and convenience of "made in India" technology, allowing travellers to make cashless transactions effortlessly.

How Does UPI One World Work?

International travellers can use the ‘UPI One World’ app to make payments at various merchant locations by scanning QR codes. The app ensures that any unused balance from the wallet can be transferred back to the original payment source, in compliance with the foreign exchange regulations of India.

Availability and Access

The UPI One World wallet is available through authorized Prepaid Payment Instrument (PPI) issuers at hotels, airports, designated money exchange locations, and other touchpoints. To access the wallet, visitors must complete a full KYC (Know Your Customer) process using their passport and valid visa. Special arrangements are being made to provide these wallets to delegates at Bharat Mandapam in New Delhi during the World Heritage Committee meeting (July 21-31, 2024).

Convenience for Tourists

The introduction of the UPI One World app allows international travellers to navigate India without the need to carry bulk cash or frequently deal with foreign exchange. The app enables users to easily pay for purchases at shops and restaurants by simply scanning a QR code.

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The new app is available and can be used by all visitors and tourists in India. Delegates attending the World Heritage Committee meeting will also benefit from special arrangements for wallet acquisition at the meeting venue.

The UPI One World wallet is issued by authorized providers at airports, hotels, and money exchange locations, ensuring a secure verification process to guarantee user safety.

Loading and Using the Wallet

Travellers can load their digital wallets with either cash or other payment methods such as internet banking. Any leftover funds can be easily transferred back to the original payment source upon leaving India, in accordance with foreign exchange regulations.

Conclusion

UPI One World emerges as a revolutionary tool for international travellers in India, offering a seamless and secure way to manage payments. With its user-friendly interface and compliance with financial regulations, it promises to enhance the travel experience by eliminating the need for cash and simplifying financial transactions.

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