Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

$3000 in June – New All-Time High?

14/06/2025

Did Circle execute its IPO ‘perfectly’?

14/06/2025

SEC Commissioner Pushes to Streamline Crypto Regulations

14/06/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Centralized Entities Now Hold Over 30% of Bitcoin’s Supply: Gemini

    14/06/2025

    US CPI Pushes Bitcoin Price Below $108,000, But Buy Pressure to Drive Recovery

    14/06/2025

    Just 216 Bitcoin holders own over 6 million BTC as market concentration grows

    14/06/2025

    New browser extension lets you instantly price the web in bitcoin

    14/06/2025

    $3000 in June – New All-Time High?

    14/06/2025

    Ethereum Stabilizes After Market Drop – Key MA Reclaim Could Trigger A June Rally

    14/06/2025

    Could BlackRock’s $34.7M Ethereum Buy Signal a Bullish Shift for ETH Price?

    14/06/2025

    Can Ethereum’s Smart Contract Sustain Amidst the Increasing Competition From Rivals?

    14/06/2025

    INJ’s Price Surges Over 5% After Canary Capital Files for a Staked Injective ETF

    14/06/2025

    Shiba Inu’s Shibarium Skyrockets 7,154% as Adoption Hits New Highs

    14/06/2025

    RLUSD Adoption Metric Skyrockets 52%, Here’s Implication for XRP Price

    14/06/2025

    Bitcoin May Lead in Store of Value — But VeChain Leads in Real-World Use

    14/06/2025

    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

    13/06/2025

    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

    13/06/2025

    Binance, Cristiano Ronaldo Introduce Sixth NFT Drop

    13/06/2025

    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

    13/06/2025

    $3000 in June – New All-Time High?

    14/06/2025

    Did Circle execute its IPO ‘perfectly’?

    14/06/2025

    SEC Commissioner Pushes to Streamline Crypto Regulations

    14/06/2025

    Good News for US Investors with Airdrop from Surprise Altcoin Listed on Binance! “First!”

    14/06/2025
  • Blockchain

    INTO Commences Partnership with Dragonfly to Broaden Web3 Accessibility

    14/06/2025

    Metalpha Collaborates with DogeOS

    14/06/2025

    YZi Labs and Plume Unveil $150M Genesis Mainnet

    14/06/2025

    Micro-cap Quantum Resistance Ledger’s QRL token jumps 33% amid quantum concerns for crypto

    14/06/2025

    BNB Chain Expands BNB AI Hack to BNB Hack

    14/06/2025
  • DeFi

    Crypto Lending Platform Morpho V2 Brings DeFi Closer to Traditional Finance

    14/06/2025

    DeFi Adding $5B of Solana Buying Power With New Line of Credit

    14/06/2025

    World Liberty promised AAVE lending six months ago — so where is it?

    14/06/2025

    NodeX Partners with Laika AI to Pioneer AI-Powered DeFi Infrastructure & Web3

    14/06/2025

    Solv Protocol Joins Lista DAO to Unveil $SolvBTC/$USD1 Lending Market

    14/06/2025
  • Metaverse

    Meta Invests $14 Billion in Scale AI to ‘Deepen’ its Work on Superintelligence

    13/06/2025

    US Senators Probe Stablecoin Plans by Facebook Parent Meta

    12/06/2025

    Terminus Forges Alliance with COBOX to Revolutionize Metaverse

    11/06/2025

    DRX Asia Partners With Terminus to Build On Metaverse Ambitions

    11/06/2025

    COBOX and Broken Bound Announce Strategic Partnership Amid Growing Metaverse Integration

    11/06/2025
  • Regulation

    Did Circle execute its IPO ‘perfectly’?

    14/06/2025

    VanEck, 21Shares, and Canary urge SEC to revert to ‘first to file, first to approve’ standard for crypto ETFs

    14/06/2025

    Pump.fun may have loftier goals than building an L1

    14/06/2025

    US Congressmen introduce a bill to initiate the first comprehensive audit of America’s gold reserves

    14/06/2025

    CZ Blasts New York Times Over Alleged TRUMP Memecoin Dinner Smear

    14/06/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Good News for US Investors with Airdrop from Surprise Altcoin Listed on Binance! “First!”

    14/06/2025

    How HYPE Surged on Hyperliquid’s Growing Perpetual Futures Stardom

    14/06/2025

    Blazpay Partners with ManusPay to Redefine AI-Driven Crypto Payments

    14/06/2025

    Coinbase Adds 12 Cryptocurrencies for Futures Trading Collateral

    14/06/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Why are big games building on Avalanche instead of Ethereum?

    14/06/2025

    Tencent exploring $15B Nexon acquisition, a gaming firm with Web3 investments

    13/06/2025

    Off The Grid active wallets hold steady ahead of Steam launch

    13/06/2025

    ‘FIFA Rivals’ Launches—Why Mythical Games Thinks It’ll Hit Bigger Than ‘NFL Rivals’

    13/06/2025

    946 Exahash—Miners Push Bitcoin to New Computational Heights Despite Pay Drop

    14/06/2025

    Pakistan Announces Investment in Bitcoin Mining Amid Tensions with India! Here Are the Details

    14/06/2025

    Bitcoin Miners Just Had One of Their Best Quarters on Record, JPMorgan Says

    14/06/2025

    Bitcoin Miners Notch Gains as Meta Signs 20-Year AI Deal With Nuclear Plant

    13/06/2025

    SEC Commissioner Pushes to Streamline Crypto Regulations

    14/06/2025

    Why These Top 8 Crypto Groups Want The Two Bills Merged

    14/06/2025

    OpenAI Challenges Court Order to Preserve User Data in NYT Lawsuit

    14/06/2025

    Brazil Mulls Taxing Cryptocurrency to Offset Financial Transaction Tax Hike

    14/06/2025

    $3000 in June – New All-Time High?

    14/06/2025

    Did Circle execute its IPO ‘perfectly’?

    14/06/2025

    SEC Commissioner Pushes to Streamline Crypto Regulations

    14/06/2025

    Good News for US Investors with Airdrop from Surprise Altcoin Listed on Binance! “First!”

    14/06/2025
  • MarketCap
NBTC News
Home»Exchanges»India’s UPI to offer wallet service to foreign visitors amid digital payments boom
Exchanges

India’s UPI to offer wallet service to foreign visitors amid digital payments boom

NBTCBy NBTC05/08/2024No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


The National Payments Corporation of India (NPCI), which operates retail payments and settlement systems in the country, has rolled out the ‘UPI One World’ wallet for inbound travelers visiting India. The initiative is designed to provide international visitors from some parts of the globe with a seamless, real-time digital payment experience, making exploring India’s cultural attractions and vibrant landscapes easier.

The initiative by the NPCI is aimed at showcasing India’s success in the global digital payments landscape and provide an opportunity for the international community to engage with and benefit from the Digital Public Infrastructure (DPI), UPI said in a statement. The initiative is also expected to eliminate the need to carry cash and avoid the complexities of foreign exchange transactions.

Launched in 2016, the Unified Payments Interface (UPI) has become popular as a single mobile application for accessing different bank accounts. It has expanded to United Arab Emirates, Peru, Mauritius, Sri Lanka, Singapore, France, Bhutan and Nepal. In June 2024, UPI processed close to 14 billion transactions valued at Rs 20.07 trillion ($240 billion).

The UPI One World wallet can be availed through authorized prepaid payment instruments (PPIs) issuers at airports, hotels, designated money exchange locations and other touchpoints, following a full KYC (know-your-customer) process based on a passport and valid visa. PPIs are cards or digital wallets typically preloaded with funds to enable a user to make payments.

Once issued, the wallet can be loaded in cash or through other payment modes.

International travelers can use the UPI One World app to pay at merchant locations by scanning the QR codes. Any unused balance can be transferred back to the original payment source in accordance with foreign exchange regulations. This enablement has been made possible by the joint efforts of NPCI, IDFC First Bank and Transcorp International Limited under the guidance of the Reserve Bank of India (RBI), the statement said.

UPI One World wallet was first introduced during the G20 Summit hosted by India in 2023. In December 2022, India held its G20 presidency, with digital asset regulation as one of its agendas. The G20 is an intergovernmental forum of the world’s major developed and developing economies, collectively accounting for 85% of global gross domestic product (GDP) and 75% of international trade.

The world’s fastest-growing major economy has witnessed a record surge in digital payments as it aims to become a digital powerhouse while leveraging emerging technologies as a catalyst for economic growth. UPI has been a key growth driver, demonstrating a compound annual growth rate (CAGR) of 138% in its volumes from fiscal year 2018-2024.

UPI is reportedly adding as many as 6 million users per month and has set an ambitious target of one billion daily transactions in the coming years.

“Today in India, UPI is used at all levels from street vendors to large shopping malls, with the highest percentage of digital transactions globally, accounting for nearly 46 per cent share,” said Amitabh Kant, G20 Sherpa of India.

In the G20, the Sherpas are the leaders of each country who take the discussions and agreements to the final summit with heads of state and government.

“All these proved to be building blocks for India to steer through the COVID-19 pandemic, be it transfer of $4.5 billion into the bank accounts of 160 million beneficiaries, or facilitate distribution of 2.5 million vaccinations in two years with digital vaccine certificates on mobiles. We are far advanced in terms of digitisation and I am confident this report will be the guiding North Star for the world to follow,” Kant added.

Watch: India is going to be the frontrunner in digitalization

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Good News for US Investors with Airdrop from Surprise Altcoin Listed on Binance! “First!”

14/06/2025

How HYPE Surged on Hyperliquid’s Growing Perpetual Futures Stardom

14/06/2025

Blazpay Partners with ManusPay to Redefine AI-Driven Crypto Payments

14/06/2025

Coinbase Adds 12 Cryptocurrencies for Futures Trading Collateral

14/06/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

$3000 in June – New All-Time High?

14/06/2025

Did Circle execute its IPO ‘perfectly’?

14/06/2025

SEC Commissioner Pushes to Streamline Crypto Regulations

14/06/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.