IDFC FIRST Bank Launches UPI Services for NRIs in 12 Countries

IDFC First  Bank has taken a significant step in revolutionising digital payments for Non-Resident Indians (NRIs) by launching Unified Payments Interface (UPI) services in 12 countries. This initiative allows NRIs to make digital payments in India without the need for an Indian SIM card or any transaction charges. 

IDFC First Bank Expands UPI Services for NRIs

IDFC First  Bank has expanded its services to cater to NRIs by enabling them to use UPI, a widely used digital payment platform in India, directly from their international mobile numbers. The feature is available for individuals with Non-Resident External (NRE) or Non-Resident Ordinary (NRO) accounts. 

Now, users can link their international mobile numbers to these accounts through the IDFC FIRST Bank app, eliminating the hassle of needing an Indian SIM card.

Instant Transactions Without Extra Fees

One of the major advantages of this service is that NRIs can carry out a variety of transactions, including instant money transfers, QR code payments, and utility bill payments, all without incurring any additional fees. 

Transactions are settled in Indian rupees (₹), ensuring that NRIs can make payments in India cost-effectively without worrying about foreign exchange fees. This feature is a huge benefit for those who regularly need to pay for services or transfer money to their families in India.

UPI Accessibility Across 12 Countries

Currently, the service is live in 12 countries: Australia, Canada, France, Hong Kong, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, the United Arab Emirates (UAE), the United Kingdom (UK), and the United States (US). This launch marks a significant milestone in making digital payments for NRIs more convenient and accessible across a wide range of regions.

Other Banks and UPI Apps Supporting NRIs

The launch of UPI services by IDFC First  Bank comes in the wake of the National Payments Corporation of India’s (NPCI) initiative to enable UPI access through international mobile numbers. 

UPI One World Initiative

For international visitors to India who do not have an Indian bank account, the NPCI has introduced the UPI One World initiative. This allows them to access a prepaid UPI wallet for seamless local transactions in India, making it easier for tourists and business travellers to use UPI during their stay.

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Conclusion 

IDFC First  Bank's UPI services offer a convenient and cost-effective solution for NRIs to make seamless transactions in India. This initiative enhances digital payments for NRIs, making them more accessible globally.

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