New Delhi: The Reserve Bank of India (RBI) has announced that UPI merchant facility will also be available for inbound travellers (those who come to visit the country for travelling purpose) in India. RBI Governor Shaktikanta Das announced the development at the conclusion speech of the Monetary Policy Committtee on February 8. The new facility will help travellers coming to India to be able to use UPI for retail payments conveniently.
ALSO READ | Zomato Takes a Jibe on Virat Kohli’s Tweet on Losing His New Unboxing Phone
Initially, the UPI facility will be available to travellers from G-20 countries that inlcude Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, Turkiye, United Kingdom, and United States and European Union. Later on, the facility will be expanded to the traveller of more countries.
ALSO READ | PM KISAN installment money to be increased to Rs 8,000? Govt Says THIS
“It’s now proposed to permit all inbound travellers to use UPI payments for their merchant payments while they are in the country. To begin with, this facility will be extended to travellers from G20 countries arriving at select international airports,” said RBI Governor Shaktikanta Das.
UPI is a popular payment app in India, which allows transferring of money from one account to another very easily with the help of mobile number. It’s hassle-free and covenient and can be availed even in feature phones. Hence, UPI is very prevalent in India and has helping to achieve Digital India Mission. The success of UPI has been praised by IMF and World Bank.