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P2P payments being evaluated for UPI One World: sources

Economic TimesEconomic Times ¡ 3d
P2P payments being evaluated for UPI One World: sources

The UPI One World service in India, currently used by foreign travellers for merchant transactions, may soon be expanded to include interpersonal transactions. Once approved, users will be able to make payments to small merchants, public transporters, and tourist guides using this service. Currently, only five players are enabled on UPI One World, but the potential for growth is hindered by the requirement for physical KYC and the restriction to only merchant transactions. Suggestions have been made to allow P2P transactions with a limit of Rs 5,000 initially. The volume of UPI One World transactions remains relatively small compared to overall UPI payments. Efforts are being made to facilitate digital verification of visas and travel permits. Enabling international travellers to experience UPI during their stay in India is seen as a way to showcase the technology.

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