IDFC First Bank Simplifies Digital Payments for NRIs with New UPI Feature

IDFC First Bank has launched a new feature allowing Non-Resident Indians (NRIs) to use UPI (Unified Payments Interface) services in India using their international mobile numbers. This update helps NRIs send money, make payments, and scan QR codes through any UPI app without needing an Indian SIM card.

How the Service Works

Previously, UPI access required users to have an Indian mobile number, making it difficult for NRIs to use this system. Now, NRIs holding NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts with IDFC First Bank can register their international mobile numbers through the bank’s app or at a branch. Once verified, they can start using UPI-enabled apps for transactions just like resident Indians.

Supported Countries and Future Plans

Currently, the service is available for NRIs using mobile numbers from 6 countries:

• United States
• United Kingdom
• United Arab Emirates
• Canada
• Australia
• Singapore

IDFC First Bank plans to expand this list, allowing more NRIs worldwide to access UPI services easily.

Aligning with RBI’s Vision

This move aligns with the Reserve Bank of India’s (RBI) goal to internationalise UPI and extend seamless digital payment access to Indians living abroad. The feature will benefit NRIs who manage expenses in India, such as family support, investments, or property transactions.

What’s Next for NRIs?

IDFC First Bank aims to roll out more NRI-focused services, including UPI-based investment management, bill payments, and loan repayments. As more banks follow suit, UPI’s global relevance is expected to grow.

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IDFC First Bank Share Price Performance

On July 3, 2025, IDFC First Bank share price closed at ₹77.44, up by ₹0.19 or 0.25%. During the session, the stock opened at ₹77.40, reached a high of ₹77.84, and touched a low of ₹76.95. The bank has a market capitalisation of ₹56,840 crore, a price-to-earnings (P/E) ratio of 38.15, and does not currently offer a dividend yield. Over the past year, the stock has traded between a 52-week low of ₹52.46 and a 52-week high of ₹82.10.

Conclusion

IDFC First Bank’s new service bridges a key gap for NRIs, offering them the convenience of India’s digital payment system without needing an Indian mobile number. This marks a step forward in making UPI a truly global solution.

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