UPI One World Wallet:  The National Payments Corporation of India (NPCI) has announced the UPI One World Wallet service for international travelers visiting India. This will make it easier for foreign visitors to make payments while traveling across the nation. The 'UPI One World' wallet has been launched to make traveling easier and promote real-time digital payments.

The UPI One World Wallet was first introduced during the G20 summit held in India last year. Under this service, even those people who do not have an account in an Indian bank will be able to access the Unified Payments Interface (UPI) system and make payments using it.

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This initiative was launched by NPCI in collaboration with IDFC First Bank and Transcorp International Limited under the guidelines of the Reserve Bank of India (RBI). This service will relieve travelers from the hassle of carrying large amounts of cash or multiple foreign exchange transactions.

NRI And Foreigners to be benefitted

Foreign travelers and NRIs can download the Prepaid Payment Instrument (PPI)-UPI app under the UPI One World Wallet service. After this, users will be able to scan the QR code of any merchant with their smartphone camera to make a payment. Travelers can also make online transactions using their UPI ID. Ljhangh said that the UPI One World Wallet can be used at merchant stores, hotels, and restaurants as well as for online shopping, entertainment, transportation, travel bookings and many such things.

Travelers need to do KYC

This wallet is available at airports, hotels, money exchange locations, and other places. The thing to keep in mind is that if a foreign traveler wants to use it, then he will have to get a KYC process done with the help of a valid visa and passport.
UPI One World Wallet service is only for foreigners

The biggest advantage of this feature is that users will not need to keep cash. That is, they will be able to make online payments. Only NRIs and foreigners will be able to avail of this facility. If any balance is left, it will be refunded. Foreign exchange regulations will be used for this which means users can get its benefit only under the exchange rate.

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