UPI users paying overseas could get more transparent exchange rates through NPCI’s collaboration with J.P. Morgan Payments.
The two companies are working together to support real-time currency conversion and settlement for cross-border UPI payments.
The integration will connect J.P. Morgan Payments’ FX platform and API capabilities with NPCI’s UPI infrastructure.
It will allow transactions to be converted and settled in real time across multiple currencies.
UPI, India’s instant account-to-account payment system, has been expanding beyond its home market as more countries enable acceptance for Indian travellers.
Guhaprasath Rajagopal, Head of India Payments at J.P. Morgan Payments, said,
“This collaboration reduces friction in cross-border payments and connects clients to UPI’s expanding reach, while pairing it with our real-time FX capabilities and API-based integration.
We’re focused on helping clients deliver better customer experiences with greater transparency, scale and control across currencies and corridors.”
An NPCI spokesperson said,
“UPI has set a strong benchmark for secure, seamless digital payments.
By collaborating with J.P. Morgan Payments, we aim to make cross-border payments friction free, supporting Indian travelers with an experience that is instant, reliable, and trusted.”
UPI is already available in nine countries, including Singapore, the United Arab Emirates, Nepal, Bhutan, Mauritius, France, Sri Lanka, Cambodia and Qatar.
The tie-up is expected to support further expansion of UPI’s international footprint.
Featured image: Edited by Fintech News Singapore, based on image by starmultikharisma via Magnific
