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NPCI to roll out cross-border bill payments service for NRIs living in the UK
IndianStartupNews
·
1y ago
Medial
The National Payments Corporation of India (NPCI) is extending the Bharat Bill Payment System (BBPS) to Non-Resident Indians (NRIs) in the United Kingdom (UK). This move allows UK-based NRIs to directly pay bills for their family members in India, simplifying the process. Previously, NRIs had to transfer money to their family's Indian accounts for bill payments. The service was initiated by the Reserve Bank of India in September 2022 and is already operational for NRIs in Oman, Kuwait, Bahrain, and the United Arab Emirates. The NPCI plans to expand this service to other countries with significant NRI populations, like Canada and Singapore.
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NPIL Signs MoU With Greece’s Eurobank To Facilitate Foreign Inward Remittances To India
Inc42
·
1y ago
Medial
India's National Payments Corporation of India (NPCI) International Payments Limited (NIPL) has signed an MoU with Greece's Eurobank, enabling cross-border payments to India through the Unified Payments Interface (UPI). The collaboration will facilitate foreign inward remittances from Greece to India, offering streamlined payment solutions to the Indian diaspora in Greece. NIPL and Eurobank will handle fund settlement, reconciliation, and dispute resolutions in their respective jurisdictions. Greece joins countries such as Sri Lanka, Mauritius, Bhutan, Nepal, the UAE, and Canada in adopting UPI for cross-border payments.
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NPCI Seeks For Real-Time Payment Connectivity Between Indian and US Banks
Inc42
·
1y ago
Medial
The National Payments Corporation of India (NPCI) is in advanced talks with banks in the United States to establish real-time payment connectivity between the two countries. The NPCI, in collaboration with Indian and foreign banks, is working on creating use-case models and conducting testing pilots within the unified payments interface (UPI) ecosystem. The goal is to expand on the progress made by the NPCI in establishing cross-country systems and enable quicker and secure cross-border money transfers for residents of both nations.
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Skydo secures RBI licence to offer cross-border payments
Economic Times
·
6m ago
Medial
Skydo Technologies, a Bengaluru-based cross-border payments company, has received in-principle approval from the Reserve Bank of India to operate as a Payment Aggregator-Cross Border entity. With this license, Skydo plans to expand its offerings, simplify cross-border payments for over 12,000 Indian exporters, and increase its payments volume significantly. Additionally, it has secured Payment Service Provider approval from Amazon, enhancing its services for exporters in Amazon's Global Selling program. The company aims to broaden its operations to include credit and treasury services.
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Google Pay India signs pact with NPCI for global expansion of UPI
Economic Times
·
1y ago
Medial
Google India's digital payment service, Google Pay, has signed a Memorandum of Understanding (MoU) with NPCI International Payments Limited (NIPL) to expand the reach of UPI (Unified Payments Interface) to countries outside India. The collaboration aims to enable UPI-like digital payment systems in other countries, facilitate UPI payments for international travelers, and simplify cross-border financial exchanges. This partnership will help accelerate the global acceptance of UPI and provide foreign merchants access to Indian customers through UPI-powered apps like Google Pay.
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Now, Indians Can Pay Using UPI In Nepal
Inc42
·
1y ago
Medial
The National Payments Corporation of India (NPCI) has announced that the Unified Payment Interface (UPI) is now live in Nepal, following a signed pact between NPCI International Payments Ltd (NIPL) and Fonepay Payment Service. The partnership will enable Indian consumers to make instant, secure, and convenient UPI payments across various stores in Nepal, facilitating QR-code-based person-to-merchant transactions between the two countries. This digital connection aims to strengthen people-to-people ties and promote economic prosperity in the region. Similar cross-border UPI deployments have been made in countries such as Sri Lanka, Mauritius, Bhutan, UAE, and Canada.
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After UAE, NPCI launches UPI in Nepal; Users can san QR codes to make payments
IndianStartupNews
·
1y ago
Medial
NPCI International Payments Ltd (NIPL), the international arm of National Payments Corporation of India (NPCI), has partnered with Fonepay Payment Service Ltd, Nepal's largest payment network, to introduce Unified Payment Interface (UPI) for cross-border transactions. This collaboration allows Indian consumers to use UPI-enabled apps for QR-code-based person-to-merchant transactions in Nepal. The integration of UPI into Nepal's payment ecosystem not only strengthens ties between the two countries but also sets an example for future digital payment integrations globally. The partnership is expected to boost economic ties, commerce, and tourism between India and Nepal while promoting financial inclusion and economic prosperity.
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UPI-PayNow: International remittance enabled for these 13 new banks by NPCI; Know the details - The Economic Times
Economic Times
·
24d ago
Medial
The National Payments Corporation of India (NPCI) has expanded the UPI-PayNow international remittance service to include 13 additional Indian banks, allowing for real-time cross-border transfers to Singapore, effective July 17, 2025. This expansion increases the total to 19 participating banks, enabling a wider customer base to remit funds efficiently. The UPI-PayNow integration offers secure, cost-effective, and instant transactions, enhancing financial connectivity between India and Singapore, and benefiting the Indian diaspora in Singapore.
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NPCI scales up UPI adoption in UAE to strengthen digital ties - The Economic Times
Economic Times
·
1m ago
Medial
NPCI International Payments Ltd (NIPL) is expanding the Unified Payments Interface (UPI) acceptance in the UAE to enhance digital payments, collaborating with local partners to provide seamless transactions. This initiative aims to support the UAE's digital economy goal, aiding cross-border payments for millions of Indian travelers. With existing partnerships, several UAE merchants accept UPI, aligning with India's significant digital payment advancements. This move underscores the growing global confidence in India's payment innovations.
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Highest profit pool in payments lies with NPCI: PhonePe CEO Sameer Nigam
Money Control
·
2y ago
Medial
NPCI was established under the aegis of RBI as a non-profit to run a few payment systems such as Immediate Payment Service (IMPS), Unified Payments Interface (UPI), and Bharat Bill Payment System (BBPS). In FY22, NPCI posted a Rs 773 crore profit.
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US firm ACI Worldwide sees a spot in cross-border payments business here
Economic Times
·
1y ago
Medial
ACI Worldwide, an instant payments company based in the US, is targeting the emerging cross-border payments market in India. The CEO, Thomas Warsop, emphasized the need for regulators to simplify and reduce the cost and time required for cross-border payments in order to unleash the potential of instant payments. ACI Worldwide is actively exploring opportunities to expand its customer base in India, aiming for 6-7% growth worldwide by 2023-2024. Warsop believes that bilateral agreements between countries will pave the way for a global standard for instant cross-border payments.
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