TBM Staff - Mumbai EbixCash, the fintech arm of Ebix Inc, will enable Unified Payments Interface (UPI) transactions for foreign nationals visiting India during the G-20 Summit, following Reserve Bank of India (RBI) Governor Shaktikanta Das’ announcement last week to allow UPI for inbound travellers at select international airports, reports Money Control.
As a part of that initiative, EbixCash has become the first financial services entity in the country to enable this service for the delegates attending the G-20 summit being held in India. The company will launch a pilot shortly in Bengaluru at the G-20 summit, involving dignitaries from the world’s 20 most powerful nations.
T C Guruprasad, MD, Payment Solutions Division and EbixCash World Money said. “We are excited to announce the launch of UPI for foreign nationals exchanging currencies across airports in India. This is in line with our commitment to embrace the vision of India’s Prime Minister Narendra Modi to promote digital transactions in India.”
He added, “This would enable passengers to visit our airport counters across India for converting their foreign currency into digital Indian currency, with a UPI interface to pay for goods and services across the country”.
On February 8, Das said “UPI has become hugely popular for retail digital payments in India. It is now proposed to permit all inbound travellers to India to use UPI for their merchant payments (P2M) while they are in the country. To begin with, this facility will be extended to travellers from G-20 countries arriving at select international airports.” (Source: Money Control)
