Abhishek012
TF Pioneer
UPI Global - UPI expand to USA, Europe, Asia etc | Indian merchant accept UPI from foreigners:
UPI release a circular for payment apps and banks to enable all "UPI global" integration on their system.
Subject:
1) Revision of UPI Global Acceptance Limits
2) Launch of International Mobile Application Payment Acceptance through UPI QR code in India
3) Currency and Country code enablement for UPI Global Acceptance Transactions
1) Revision for UPI Global Acceptance Limits -
The per-transaction limit for UPI Global to be the same as that of UPI, and UPI Global transactions to be included in the per-day limit of UPI.
Member Banks (Payer PSP and Remitter) and UPI Application are requested to take note of the above and undertake required changes. Members are requested to make the necessary changes by 30th November 2023.
2) Launch of International Mobile Application Payment Acceptance through UPI QR code in India -
In order to promote UPI payment platform globally, International Mobile Application Payment Acceptance through UPI QR code in India has been introduced. This will enable Indian Merchants to accept payments from international customers through their International Mobile Application by scanning UPI QR codes in India.
In online transaction request, purpose code of these transactions will be "60".
Member Banks (Payee PSP) and Merchants are requested to take note of the above enhancement and undertake required changes, Members are requested to make the necessary changes by 31st December 2023.
3) Currency/Country code enablement for UPI Global Acceptance Transactions -
Members were informed that International Merchant Payments through UPI (UPI Global) is live for Singapore, UAE and Bhutan.
NPCI and NIPL is working towards on-boarding new partners on the UPI platform (UPI Global) for furthering UPI Global Acceptance in multiple countries. To provide seamless experience to the customers, Members (Remitter Banks, Payer PSP Banks and UPI Applications) to enable the following country and currency code.
Member Banks (Payer PSP end Remitter) and UPI Application are requested to take note of the above enhancement and undertake required changes. Members are requested to make the necessary changes by 31st December 2023.
Further, it was also incumbent upon the banks to abide by the extant and future RBI, FEMA and other relevant guidelines.
Source:
UPI release a circular for payment apps and banks to enable all "UPI global" integration on their system.
Subject:
1) Revision of UPI Global Acceptance Limits
2) Launch of International Mobile Application Payment Acceptance through UPI QR code in India
3) Currency and Country code enablement for UPI Global Acceptance Transactions
1) Revision for UPI Global Acceptance Limits -
The per-transaction limit for UPI Global to be the same as that of UPI, and UPI Global transactions to be included in the per-day limit of UPI.
Member Banks (Payer PSP and Remitter) and UPI Application are requested to take note of the above and undertake required changes. Members are requested to make the necessary changes by 30th November 2023.
2) Launch of International Mobile Application Payment Acceptance through UPI QR code in India -
In order to promote UPI payment platform globally, International Mobile Application Payment Acceptance through UPI QR code in India has been introduced. This will enable Indian Merchants to accept payments from international customers through their International Mobile Application by scanning UPI QR codes in India.
In online transaction request, purpose code of these transactions will be "60".
Member Banks (Payee PSP) and Merchants are requested to take note of the above enhancement and undertake required changes, Members are requested to make the necessary changes by 31st December 2023.
3) Currency/Country code enablement for UPI Global Acceptance Transactions -
Members were informed that International Merchant Payments through UPI (UPI Global) is live for Singapore, UAE and Bhutan.
NPCI and NIPL is working towards on-boarding new partners on the UPI platform (UPI Global) for furthering UPI Global Acceptance in multiple countries. To provide seamless experience to the customers, Members (Remitter Banks, Payer PSP Banks and UPI Applications) to enable the following country and currency code.
Member Banks (Payer PSP end Remitter) and UPI Application are requested to take note of the above enhancement and undertake required changes. Members are requested to make the necessary changes by 31st December 2023.
Further, it was also incumbent upon the banks to abide by the extant and future RBI, FEMA and other relevant guidelines.
Source:
