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The expansion of UPI beyond India could make international payments faster and simpler for consumers and businesses by connecting instant-payment networks across countries.
UPI’s expansion beyond India is opening the door to a more connected cross-border payments ecosystem, as instant-payment networks gain traction across countries. For India, the next opportunity lies in linking these systems to make international payments faster, simpler and more seamless for consumers and businesses.
UPI is India's domestic instant payment system, and global interoperability refers to the technical ability for different national payment networks to communicate and process transactions seamlessly.
- •Progress in linking UPI with foreign instant-payment systems
- •Adoption of cross-border UPI services by international banks and merchants