Google Pay and NPCI Join Forces to Expand UPI Globally and Simplify Cross-Border Payments

Google Pay and the National Payments Corporation of India (NPCI) have signed a Memorandum of Understanding (MoU) to collaboratively expand the Unified Payments Interface (UPI) to international markets, aiming to streamline digital payments abroad. UPI has gained widespread popularity in India, facilitating instant payments through various apps like Google Pay, PhonePe, and Paytm. The initiative, led by Google Pay India and NPCI subsidiary NIPL, seeks to establish a UPI-style digital payments infrastructure in other countries, easing the process for travelers and simplifying cross-border financial exchanges.

The collaboration aims to leverage the success of UPI in India, where it processed a substantial value of Rs. 167 lakh crores in payments in 2023. The partnership will not only enhance digital payments for Indian travelers but also extend expertise in operating a successful digital payments ecosystem to other nations. The initiative plans to reduce reliance on credit or forex cards for international transactions, allowing UPI apps like Google Pay to be used for seamless global payments.

Deeksha Kaushal, Director of Partnerships at Google Pay India, emphasized that UPI has showcased the transformative impact of interoperable, population-scale digital infrastructure on economies. The collaboration between Google and NPCI aims to replicate this success globally, with a focus on simplifying foreign transactions and fostering international financial connectivity.

Last year, Google Pay introduced UPI Lite, a feature enabling small-value digital payments with a single tap, eliminating the need for entering the UPI PIN in regular transactions. The initiative also aligns with the Reserve Bank of India’s decision to increase the UPI Lite transaction limit from Rs. 200 to Rs. 500, further facilitating convenient digital transactions. With the UPI ecosystem reaching significant milestones, including over 10 billion transactions in August, the collaboration between Google Pay and NPCI marks a strategic step toward globalizing India’s successful digital payments model.