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These NRI customers can pay using UPI in India using foreign mobile number. Earlier, in order to create a UPI ID and use any UPI app, an NRI required a working Indian mobile number. This will reduce non-resident Indians (NRIs) the cost of keeping an active Indian mobile number.
RBI and Nepal Rastra Bank ink Terms of Reference to integrate UPI and NPI for cross-border remittances, enhancing financial ties between India and Nepal.
Factors such as affordable internet access and greater financial inclusion have contributed to the widespread popularity of digital payments across the country.
Global expansion of UPI, RTGS, and NEFT, higher debit over credit card usage among 3 year goals in 'Vision 2025' report by Reserve Bank of India (RBI)
UPI transfer: Know if you need to register beneficiary, maximum limit, more details - It is not necessary to register a beneficiary to transfer money via UPI.