Indians Can Now Make UPI Payments Using Paytm in UAE and 6 Other Countries

Indians Can Now Make UPI Payments Using Paytm in UAE travelers are set to experience a revolution in cross-border transactions as Paytm, owned by One97 Communications Limited (OCL), extends the power of Unified Payment Interface (UPI) to seven international destinations. This move enables Indians to make seamless payments for shopping, dining, and local experiences abroad through the Paytm app.

In this article, we explore how this enhancement transforms international transactions, the supported destinations, activation steps, and the wider implications for cashless payments.

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What Is the Unified Payment Interface (UPI)?

Unified Payment Interface (UPI) is India’s revolutionary digital payment system, allowing instant money transfers directly from bank accounts. Initially designed for domestic use, UPI’s international expansion is bridging financial gaps, making transactions overseas as simple as they are at home.

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Indians Can Now Make UPI Payments Using Paytm in UAE Paytm Brings UPI International Payments to Indian Travelers

The latest update from Paytm enables Indian users to make UPI-based payments at select international locations. These include:

• United Arab Emirates (UAE)
• Sri Lanka
• Singapore
• France
• Mauritius
• Bhutan
• Nepal

Indians Can Now Make UPI Payments Using Paytm in UAE Key Benefits of UPI for International Payments

1. Convenience:
   Travelers can now avoid the hassle of carrying foreign currency or exchanging cash while traveling abroad.
2. Transparency:
   Users can view real-time foreign exchange rates and any applicable conversion fees directly within the app.
3. Security:
   Payments are verified using a secure, bank-linked UPI system, minimizing risks.
4. Control:
   The option to activate and deactivate international payments ensures users have complete control over their transactions.

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How to Activate UPI International Payments on Paytm

Activating UPI international payments on Paytm is quick and user-friendly:

Step-by-Step Guide:

1. Open the Paytm App:
   Ensure you have the latest version of the app installed.
2. Link Your Bank Account:
   Your UPI ID must be linked to an Indian bank account.
3. Activate International Payments:
   • Navigate to the UPI international payments section.
   • Perform a one-time activation to enable the service.
4. Set Usage Period:
   Choose a timeframe between 1 to 90 days for activation. This ensures the feature is active only when required.
5. Scan and Pay:
   Use the UPI-enabled QR codes at international merchant locations to complete transactions.
6. Monitor Transactions:
   Paytm provides details of foreign exchange rates and transaction summaries within the app.

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Growing UPI Ecosystem in International Markets

India’s growing influence in the global digital payments space is highlighted by these developments:

1. March 2023:
   PhonePe enabled UPI transactions in the UAE through Mashreq’s NEOPAY terminals.
2. July 3, 2023:
   NPCI International Payments Limited (NIPL) partnered with Network International to enable QR-based UPI payments across Network’s point-of-sale terminals in the UAE.
3. July 19, 2023:
   Al Maya Supermarkets, a prominent chain in the UAE, adopted UPI payments across its stores.
4. August 2023:
   LuLu Group, one of the largest retail companies in the UAE, integrated UPI payments into all its outlets, offering seamless payment options for Indian shoppers.

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Why Is This Development Significant?

This enhancement represents a milestone in the global adoption of Indian payment systems. Here’s why:

1. Simplifying Cross-Border Transactions

Indian travelers no longer need to carry multiple cards or foreign currencies. UPI allows transactions in local currencies while maintaining the convenience of using a smartphone app.

2. Boosting India’s Global Influence

As Indian companies expand their digital infrastructure, UPI is emerging as a global benchmark for seamless and secure payments.

3. Encouraging Tourism

Easier payments are likely to encourage Indian tourists to explore these seven destinations more confidently.

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Why Choose Paytm for International Payments?

While other players like PhonePe and Google Pay have ventured into UPI for global payments, Paytm’s interface offers distinct advantages:

1. One-Time Activation:
   Setting up UPI international payments requires a one-time activation, ensuring no repetitive procedures for subsequent trips.
2. Customizable Usage Periods:
   Users can activate the service for a specific duration, ensuring better control and avoiding accidental international transactions.
3. Integrated Forex Rates:
   Paytm’s interface provides precise foreign exchange rates and highlights applicable fees for informed decision-making.

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Seamless Payments in the UAE: A Case Study

Retail Revolution: UPI in UAE Stores

The UAE is leading the charge in adopting UPI, with several retail giants like Al Maya and LuLu Group accepting UPI payments. This widespread adoption simplifies transactions for the 3.5 million-strong Indian diaspora and visiting tourists.

Dining Out Made Simple

With UPI-enabled terminals, Indian travelers can now enjoy meals at local restaurants and pay directly through their Paytm app without converting currencies.

Shopping with Ease

From luxury boutiques in Dubai to local markets in Abu Dhabi, Paytm ensures hassle-free transactions, aligning with the UAE’s vision of becoming a cashless economy.

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What’s Next for UPI International?

With the successful launch in these seven destinations, experts predict UPI will expand to more countries in the coming years. Collaborations between Indian payment platforms and global financial institutions are expected to drive this growth further.

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Final Thoughts

The ability to make UPI international payments via Paytm is a game-changer for Indian travelers. From shopping and dining to exploring local experiences, Paytm simplifies cross-border payments while ensuring security and transparency.

As global collaborations grow and more merchants adopt UPI, Indian travelers can look forward to a future where international transactions are as seamless as domestic payments.