G20 Summit 2023: What is UPI One World and how can visitors use it?

The G20 Summit 2023 is all set to begin. The national capital will witness the influx of multitudes of foreign nationals and NRIs. In order to make travel and stay more convenient the provision of digital payments is made available. The UPI One World framework will let tourists pay using India's widespread UPI payment method.

What is UPI One World

"UPI One World" is an offering that lies within the UPI framework. It caters exclusively to inbound travelers. It functions as a prepaid payment instrument (PPI) integrated with UPI services and is specifically accessible to foreign nationals and NRIs arriving from G20 member countries. This digital wallet equips travelers to make transactions with ease at various merchants across India.

How to get UPI One World?

UPI One World can be accessed using the following steps:

Location: Travelers can obtain UPI One World (PPI on UPI) from authorized PPI Issuers situated at locations sanctioned for conducting currency exchange operations in accordance with RBI/FEMA guidelines.

KYC (Know Your Customer): "UPI One World" can be issued to foreign nationals/NRIs from G20 countries upon presentation of their passport and valid visa. The PPI Issuer collaborates with Full Fledged Money Changers (FFMCs) to conduct a comprehensive KYC process for users. Successful completion of this process activates the PPI wallet, complete with an Indian Rupee balance, accessible via the issuer's designated PPI app. Users are required to download and register on the app to access their issued PPI-UPI wallet.

Loading Funds: Following KYC verification, foreign nationals and NRIs can load funds into their UPI One World wallet, either by exchanging foreign currency in cash or through other approved payment instruments.

Conducting Payments with UPI One World

Once travelers get their UPI One World wallet, they can initiate payments and avail services at any merchant location in India equipped with UPI support. Here's the process:

Accessing the Wallet: Travelers log in to the PPI-UPI App and select the "scan and pay" option. By scanning the QR code provided by the merchant, they can promptly transfer funds from their PPI-UPI App.

Real-Time Balance: Users have access to real-time wallet balance updates through the PPI-UPI app.

Refunds and Benefits

Unused balances in UPI One World can be encashed in foreign currency or transferred back to the original source in accordance with established foreign exchange regulations.

Benefits of UPI ONE WORLD Wallet:

• Eliminates the need to carry cash and engage in multiple foreign exchange transactions.
• Facilitates straightforward, secure, and instant digital payments.
• Offers a transaction history within the PPI-UPI Application for tracking expenses.

Also read: 80% of foreign tourists state QR-powered UPI influences their travel experiences

Also read: Paytm launches Card Soundbox device for UPI and credit/debit card contactless payments