NPCI has expanded UPI’s reach to include Non-Resident Indians (NRIs) with their Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts. It is now possible for users to conduct UPI transactions using their overseas mobile numbers.
Currently NPCI has allowed UPI transactions for mobile numbers with country codes from Australia(+61), Canada(+1), France(+33), Hong Kong(+852), Malaysia(+60), Oman (+968), Qatar(+974), Saudi Arabia(+966), Singapore(+65), United Arab Emirates(+971), United Kingdom(+44), United States of America(+1). With their international numbers, NRIs from these 12 countries can facilitate UPI payments, they will no longer be required to keep an Indian number to make UPI payments.
Further, the Indian government has consistently prioritised the cross-border utilisation of UPI. Unified Payments Interface (UPI) is currently used in nations including France, Nepal, UAE, Bhutan, Malaysia, Oman, Qatar, Sri Lanka, and Mauritius. To expand its UPI services, the Indian government is negotiating with several nations, including the US, UK, Australia, and some other European nations. The aim is to extend UPI to 20 nations, and this has to be accomplished by the Reserve Bank Of India and NPCI International Payments Ltd. (NIPL) between 2024 and 2028, according to the RBI annual report.
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After enabling UPI payments through an International Number, NRIs can easily scan any Indian OR code, send money to UPI IDs in India, pay to a mobile number, and send money directly to the mobile number.
To enable UPI through International numbers there are some prerequisites:
- The International number should be linked with the NRO or NRE account to activate the UPI.
- The NRO or NRI accounts should be Know Your Customer (KYC) enabled.
- The Bank should see if the other necessary regulatory conditions are fulfilled for the NRO/NRE accounts such as Foreign Exchange Management Act or FEMA
How to Open NRI/NRO Account on UPI Apps
As of 18th September 2024, only 7 apps can be used to enable UPI for NRIs, apps include Federal Bank (FedMobile), ICICI Bank (iMobile), IndusInd Bank (BHIM Indus Pay), South Indian Bank (SIB Mirror+), AU Small Finance Bank (BHIM AU), BHIM, and PhonePe.
Let’s take an example of ICICI banks iMobile app to understand how to enable UPI for NRIs on this app-
Step 1: Log in to the iMobile Pay app
Step 2: Click on ‘UPI Payments’
Step 3: Verify Mobile Number
Step 4: Click on Manage then on My profile
Step 5: Create UPI ID (select from the suggested options)
Step 6: Select Account Number and then press Submit
Advantage of Internationalisation of UPI
With an estimated 18 million expats, Indians constitute the world’s largest diaspora group. For the large working population and students abroad, enabling UPI for international transactions has significant advantages. India is also one of the largest Remittance recipient countries in the world among low and middle-income countries which received USD 111.2 billion in 2022 according to World Migration Report 2024.
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Here are some Advantages of enabling UPI for NRIs
Possibility of Wider Acceptance: At the moment, NRIs from 12 countries are allowed to use UPI-enabled payment from their international numbers. Indians who work overseas may find it advantageous to use UPI for routine transactions in India as the system becomes more widely used. It does away with the necessity of having an Indian number, or other modes of payment such as bank transfer, which may result in extra costs.
Better Financial Inclusion: UPI can make receiving money from abroad quicker and simpler for the Indian diaspora living outside. For people (mostly families) who depend on financial support back home, it can be extremely beneficial.
Faster and Cheaper Remittances: It’s now easier and more affordable to send money to friends or relatives overseas. When compared to more conventional techniques like wire transfers, UPI’s real-time feature may help to drastically shorten processing times. Savings can also result from transaction costs that are less expensive than those charged by banks or money transfer firms.
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Common FAQs
The daily UPI transaction limit is INR 1 lakh (INR 1,00,000), or a maximum of 20 transactions, following National Payment Corporation of India (NPCI) norms.
For NRIs, there are currently no fees associated with utilising UPI. However, in accordance with NPCI norms, this could change.
Unfortunately, currently, only Indian Rupees (INR) can be used for UPI transactions.
No, under such circumstances, the Bank Pay UPI application can only be used by the Primary Account Holder to produce a single UPI or VPA ID at a time.
No. Upon registration, an NRI can carry out UPI transactions using the same device and UPI/ VPA ID, through the linked mobile number. NRIs can easily make UPI payments using WI-FI in case of cellular network issues when international roaming is inactive.
