Google has tied up with the global arm of the National Payments Corporation of India (NPCI) to expand Google Pay, its homegrown payments service, abroad.
The tie-up between Google India Digital Services (P) Ltd and NPCI International Payments Ltd aims to broaden the use of unified payments interface (UPI) payments for travelers outside of India.
The deal also intends to assist in setting up UPI-like digital payment systems in other countries, while also easing the process of remittances between countries by tapping the UPI infrastructure.
“Google Pay, in collaboration with NPCI and under regulatory guidance, is committed to simplifying and securing payments. This partnership exemplifies the transformative impact of digital infrastructure on economies, highlighting the potential for greater collective impact as more economies engage,” Deeksha Kaushal, director, partnerships at Google Pay India, said.
The initiative aims to boost UPI’s global reach, allowing international merchants to serve Indian customers through UPI-based apps such as Google Pay, bypassing the need for foreign currency or credit cards.
This aligns with NPCI’s goal to elevate India in the global digital payment arena and simplifies remittances by moving away from traditional money transfer methods, NPCI said in a statement.
“This collaboration aims to ease overseas transactions for Indian users and share India’s digital payments expertise globally. It also focuses on enhancing the international remittance network by expanding UPI’s cross-border features, building on UPI’s success in India to revolutionize digital payments worldwide,” Ritesh Shukla, chief executive officer at NPCI International Payments Ltd, said.
NPCI, incorporated in 2008, is an umbrella organization for operating retail payments and settlement systems in India.
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