NRIs Get UPI Access on Global Numbers

India is coming up with new developments time after time, that are increasing its global reach. There has been a recent development that brings financial convenience for NRIs or Non-Resident Indians from several parts of the world.

As per the NPCI or National Payments Corporation of India, NRIs can now link their NRE or NRO bank accounts with the Unified Payment Interface (UPI) with their foreign/international mobile numbers. While the development has been opened up for a group of certain nations, it is expected to expand to the remaining soon.

Read further for detailed insights.

What's the Change?

Until now, the non-resident Indians required an Indian mobile number linked to their bank account to use UPI for payments.

After the change, they may use their international mobile numbers as well for the UPI payments. They can now register as well as link these foreign mobile numbers directly to the UPI apps like Google Pay, BHIM, Paytm, PhonePe and several others.

There is one condition required to enjoy this benefit – that is, the respective Indian banks should be supportive of this newly introduced feature.

How is the Move Beneficial?

Because the NRIs did not have this option earlier, they required an Indian mobile number linked to their bank account. This created issues because not all could manage an Indian SIM card thoroughly and keep the same active, especially when overseas for longer time periods.

Now that the change is in place, the following benefits are accessible for the Indians residing overseas as NRIs:

Simpler Indian Visits

As you visit India, you will not have to bear the hassle of maintaining an Indian SIM card. Even with your international mobile number, it will be very much possible to carry out quick UPI fund transfers.

Payments in India from Outside

Making payments in India while sitting in a foreign country will be possible, convenient and quick from now onwards. This is specifically beneficial when you have to make utility bill payments, or manage certain investments.

Better-Managed Commitments

A unified and secure platform for payment, UPI serves as a great online solution. This will also benefit those who have investments made in India. They will be better able to keep up and manage their Indian financial commitments even as they continue residing in a foreign country.

You may also like "Linking Credit Cards to UPI for Payments? First Know These RBI Guidelines"

List of Countries Included

• UAE
• UK
• USA
• Australia
• Singapore
• Canada
• Oman
• Qatar
• Hong Kong
• Saudi Arabia

A few more come under inclusions, as some expect to be added soon.

Who is Eligible to Benefit?

If you are an NRI in any of the included countries, here are the other eligibility criteria to complete:

• NRE/NRO Account: You need a Non-Resident External or non-Resident Ordinary account linked to an Indian bank, that supports this feature.
• Registered Foreign Mobile Number: Your international mobile number should also be registered with the bank.

Note that KYC compliance and appropriate linking of your international number with the Indian bank account is a must.

Moreover, while not all banks may support this feature already, some UPI apps may also take time to let you benefit from this new development. It is wise to first check with your bank and app providers whether or not they have made the feature available.

Using UPI with International Mobile Numbers

If you are not sure how you can benefit from the change, here are the steps to start:

• Start by opening an NRO or NRE account, but, with a UPI-enabled Indian bank. You need a bank that supports the feature, just like the private bank IDFC First.
• Now register your foreign mobile number with the bank.
• Once this is done, you need a UPI app. Download one that also supports the feature.
• OTP or biometric might be required to complete the UPI registration with that mobile number.

As you complete all required steps, you can start transacting. It is possible for you to use your international mobile number to scan QR codes, pay bills and send money in India.

What's the Significance of This New Change?

This is a fresh development that will allow more empowerment to the NRIs with greater control and enhanced flexibility over financial transactions in the country. They will find making payments in India easier and quicker, and may promote their investments within the country.

Another important point to note is that the adoption of UPI worldwide will undergo promotion.

NRIs will be able to remain connected to the country's digital payment system.

This fresh development seeks to enhance the digital inclusion, making things easier for the NRIs and making India a suitable pool for investment.

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