NPCI Allows International Numbers Held By NRIs In 10 Countries For UPI Payments
Earlier, NRIs could transact on UPI platforms only through Indian mobile numbers.
The National Payments Corporation of India has agreed to allow non-resident Indians to use their non-resident bank accounts with international numbers to transact on the Unified Payments Interface.
Earlier, NRIs could transact on UPI platforms only through Indian mobile numbers.
Non-resident users in 10 countries will be allowed to onboard UPI for now, according to a circular. These are Singapore, Australia, Canada, Hong Kong, Oman, Qatar, the U.S.A., Saudi Arabia, the United Arab Emirates, and the United Kingdom.
These countries account for 1.66 crore, or about half of, of 3.2 crore Indians residing overseas.
"We have been receiving requirements from the ecosystem with regards to non-resident accounts and other permissible accounts having international numbers to be allowed to transact in UPI," the umbrella body said in the statement.
The NPCI added that anti-money laundering and terrorism financing checks will be the responsibility of remitters and beneficiary banks.
It said that all member banks should comply with the requirements by Apr. 30.