Digital payments app Paytm has announced the launch of UPI International, enabling Indian travellers to conduct UPI transactions at a selection of worldwide locations. By launching this feature, Paytm aims to allow users to make cashless payments leveraging its app in the UAE, France, Mauritius, Singapore, Bhutan, and Nepal.

With a focus on making mobile payments available to all, the company’s move intends to scale the convenience of foreign travel, enabling customers to conduct secure, cashless payments across several regions. Also, officials mentioned that the launch comes just as the holiday season is approaching to further support users in their travelling arrangements. Before introducing UPI International, Paytm teamed up with Axis Bank to provide POS solutions and EDC devices to the latter’s merchant network.

The move came after a previous partnership forged in February 2024, when the two organisations worked on supporting the settlement of merchant payments. By extending their collaboration, Paytm and Axis Bank planned to deliver POS solutions and card machines to the bank and its merchant network, focusing on augmenting the merchant-acquiring business through advanced technology and optimised operations. UPI International for travellers To begin using UPI International, users need to link their bank account to the Paytm app and, when abroad, they are required to activate the solution by scanning a UPI-supported QR code and selecting a service duration between 1 to 90 days.

For security reasons, the capability can be deactivated at any time. Also, the Paytm app delivers real-time foreign exchange rates and conversion fees before finishing a payment transaction. Moreover, UPI International can be utilised to conduct payments at several tourist locations, including markets, cafes, and shops in regions such as Dubai, Singapore, Mauritius, Bhutan, and Nepal.

Paytm’s TPAP licence Back in March 2024, NPCI announced its plans to authorise a third-party application provider (TPAP) licence for Paytm. The regulator was likely to approve the licence for the company, enabling customers to utilise the app for transactions through India’s UPI, even if its banking arm, Paytm Payments Bank, was set to terminate its operations by 15 March 2024. Additionally, by securing the TPAP licence, Paytm was projected to scale its transaction volumes, with the company regularly meeting with NPCI to obtain it.

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