RBI allows UPI-based transactions for inbound travellers to India
Mumbai, February 21, 2023
To begin with, ICICI Bank, IDFC First Bank and two non-bank PPI issuers, Pine Labs Private Ltd Transcorp International Ltd. will issue UPI linked wallets
A facility to enable all in-bound travellers visiting India to make local payments using Unified Payments Interface (UPI) while they are in India has been made available from Tuesday, the Reserve Bank of India (RBI) said.
This measure was announced by the regulator in the Statement on Developmental and Regulatory Policies on February 08.
To start with, the facility is available to travellers from G-20 countries at international airports of Bengaluru, Mumbai and New Delhi.
“Eligible travellers would be issued Prepaid Payment Instruments (PPI) wallets linked to UPI for making payments at merchant outlets. Delegates from G20 countries can also avail this facility at various meeting venues,” the RBI said.
To begin with, ICICI Bank, IDFC First Bank and two non-bank PPI issuers, Pine Labs Private Ltd Transcorp International Ltd. will issue UPI linked wallets.
“Travellers visiting India can now experience the convenience of UPI payments at over five crore merchant outlets across India, that accept QR Code-based UPI payments,” the RBI added.