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Real Live Experience - UPI Payment in Foreign Country

Abhishek012

TF Pioneer
Real Live Experience - UPI Payment in Foreign Country:

This information is shared by twitter users akshat_money and another person @#aniket

akshat_money shared his experience in Sri Lanka -

He Paid via UPI in Srilanka.

Note - UPI accept almost everywhere on Lanka QR codes.

He share this pic - While global credit & debit cards were not getting accepted, an Indian product (UPI) was getting accepted in Srilanka !!

GIOoPFfWIAAuSJa.jpg


UPI is accepted via Lanka QR code in Srilanka

Lanka QR code is comman and can be found at many places in Srilanka

You just need to scan Lanka QR via any UPI App (Currently, GPay, Phonepe, Paytm, Bhim app is live on UPI International)

Note - you need to activate your UPI International transaction from your UPI app setting.

On scanning, You will be asked to enable International UPI

As a second step, It will show the conversion rate and the amount in Indian Rupees

Conversion rate is better than market rate.

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You need to follow the regular process of entering your PIN

Once you enter your PIN, your transaction will go through

Congratulations you have paid for Sri Lanka currency via UPI

GIOoQZ9XwAA-FyM.jpg

He also confirmed only Rs180.16 debited from his bank account, no extra charges. Conversion fee already included.

If we compare with google rate then this is the best conversion rate.

Remember - Some banks dnt charge you conversion fee.

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@#aniket shared his experience in Nepal -

1 week ago, He shared the information of these 2 payments through UPI in Nepal.

Note - currently Phonepe app working on UPI International payment in Nepal. Other apps showing some errors.

Conversation rate is 1 NPR = INR 0.625

He told me, ₹500 Debit from his Indian bank account and NPR 800 Credit,

₹625 debit from his Indian bank account and NPR 1000 Credit in Nepal's merchant account.

Currently, no MDR charges for Nepal merchants.

Yesterday i ask him to share some screenshots.

Today, he shared some payment screenshots

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photo_2024-03-10_16-48-05.jpg
photo_2024-03-10_16-48-11.jpg
photo_2024-03-10_16-48-16.jpg
photo_2024-03-10_16-48-20.jpg
photo_2024-03-10_16-48-25.jpg

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#aniket

TF Ace
Congratulations you have paid for Sri Lanka currency via UPI

GIOoQZ9XwAA-FyM.jpg

He also confirmed only Rs180.16 debited from his bank account, no conversion fee charged.
@Abhishek012 Conversion fee (2.95% ) is applicable and it's included in total amount.

LKR 700= INR 175
Add: 2.95% of ₹175, i.e, ₹5.1625
So, total amount paid= ₹175+₹5.16= ₹180.16

Another illustration which was earlier shared by me😉: IMG_20240310_153247_431.jpg
 
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Abhishek012

TF Pioneer
180.16 includes conversion charge. 700x0.25 ~ 175. Conversion charge @ 2.95% on 175 ~ 5.16. Total 180.16
@Abhishek012 Wrong totally wrong, conversion fee (2.95% ) is applicable and it's included in total amount.

LKR 700= INR 175
Add: 2.95% of ₹175, i.e, ₹5.1625
So, total amount paid= ₹175+₹5.16= ₹180.16

Another illustration: IMG_20240310_153247_431.jpg
Oh aisa kya. 🤣🤣
 

#aniket

TF Ace
@#aniket shared his experience in Nepal -

1 week ago, he paid 2 times via UPI in Nepal.

Note - currently Phonepe app working on UPI International payment in Nepal. Other apps showing some errors.
Note: I have just researched and collected the info and screenshots, these payments weren't carried out by me. 😐

@Abhishek012 bro ko kuch galatfaimi ho gaya, lagta hai...

It's stated by the Service Provider of Nepal that 1.95% charges/ trxn as MDR will be applicable on the part of merchants, as Nepal also needs to pay to NPCI International (NIPL).

Liberty is provided to the merchants, if they wish, they can opt out from accepting Cross- Border QR payments.

So, basically, burden of charges will be shifted to Payers.

However, currency conversion is not in force as of now on part of customers/payers. I guess because of 0.00% markup fees between these two countries, which applies in card payments also.

Charges are subject to change in future, if applicable.

In future, Nepalese will also be able to pay Indian Merchants by scanning QR codes.

Not only this, P2P trxn between the residents of two countries
is also expected to get released in future, before, this feature was expected to go live in the first phase and then P2M but couldn't able to happen so.
 
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