India’s UPI will now ring in Britain, Indian travelers will be able to pay through BHIM app
Now India’s own UPI payment system is going to give a tough competition to the reign of Master and Visa on the payment systems around the world. Soon Indian travelers in the UK will also be able to use the indigenously developed Unified Payments Interface (UPI) payment solution on an instant basis. UPI is about to hit the UK soon.
Payment will be done by QR code
Initially, QR code based transactions can be done through this. NPCI International Payments Limited (NIPL) has partnered with payment solutions provider PayXpert for international acceptance of its payment solutions in the UK. NIPL is a wholly owned subsidiary of National Payments Corporation of India (NPCI). It has developed the world’s largest payment solution UPI and Rupay card scheme.
Partnership with PayXpert
Through this collaboration, Indian payment solutions available in the UK will be accessible for in-store payments on all PayXpert Android Point of Sale (POS) devices, NPCI said in a statement on Thursday. It will start with UPI based QR code payment. Later, the possibility of its integration with RuPay card payments will be explored.
Indians made 39 billion transactions through UPI
In 2021, $940 billion (39 billion transactions) were transacted through UPI, which is equivalent to 31 percent of India’s Gross Domestic Product (GDP). RuPay is a global card payment network developed domestically in India. More than 70 crore cards have been issued so far. David Armstrong, Managing Director of PayXpert said that the introduction of UPI and RuPay will open up a whole new field of opportunities for the company in the UK.
It will be easy for students and passengers
He said this would further strengthen the company’s solution capabilities for UK merchants. NPCI said that more than five lakh Indians, including over one lakh students, visit the place every year. He said that number is expected to grow rapidly over the next few years. The partnership will provide Indian travelers with a familiar and convenient way to pay in the UK.
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