Here is a complete list of countries that will soon let NRI users access UPI through international numbers.
- Australia
- Canada
- Singapore
- hong kong
- Queue
- Oman
- Saudi Arab
- United Arab Emirates
- the UK
- America
According to reports, the National Payments Corporation of India (NPCI) said it may eventually expand to other countries.
What is conditions?
NPCI directed those who are a part of the UPI ecosystem to allow non-resident account types such as Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts to sign up for UPI and transact. It has requested that UPI participants ensure that only accounts that are Foreign Exchange Management Act compliant make use of this facility.
NPCI said that all members of the UPI ecosystem will have to comply with its instructions by April 30. The remitting and beneficiary banks should also ensure that all necessary anti-money laundering/terrorist financing checks and compliance verification are carried out as per the regulations.
Developed by NPCI, UPI is an instant payment solution that enables peer-to-peer (P2P) and person-to-merchant (P2M) transactions between banks. It allows instant transfer of funds between two bank accounts using mobile devices.