Definition
UPI cross-border payments allow international transactions using the UPI system, enabling Non-Resident Indians (NRIs) or international customers to pay in their local currency.
Examples
- NRIs sending money to family in India via UPI.
- International online shoppers paying Indian merchants.
Importance
- Expands UPI’s reach globally.
- Simplifies currency conversion for cross-border transfers.
- Supports seamless international transactions.
Author
