A good news for Europeans citizens. Due to a partnership between the NPCI International Payments Ltd (NIPL) and European payment services facilitator Worldline, travellers to Europe will be able to make payments using UPI. The National Payments Corporation of India's international division is called NIPL (NPCI).
According to a joint statement released on Tuesday, the alliance between NIPL and Worldline intends to promote the adoption of Indian payment methods throughout Europe.
In accordance with the arrangement, Point of Sale (PoS) businesses in Europe will be able to accept UPI payments from Indians using their mobile phones thanks to the QR code-based Worldline engine. Customers from India will eventually be able to make purchases in Europe using their RuPay debit or credit cards.
In a joint statement, NPCI and Worldline predicted that increased attendance and spending by Indian tourists will have a variety of positive effects on customer-facing businesses.
According to NIPL, it is aiming for markets like Switzerland and the BENELUX (Belgium, the Netherlands, and Luxembourg). With the introduction of Worldline QR in more European nations, it will grow.
"Our investigation of the payment habits of foreign clients revealed that they have recently shifted away from global card schemes and favour any mobile payment method they are accustomed to.
"Our partnership with NPCI International seeks to mitigate the risk of excluding or limiting Indian customers from safely using electronic payments in the EU," Marc-Henri Desportes, Deputy CEO of Worldline, said.
Ritesh Shukla, CEO of NIPL, said the partnership will provide the company an opportunity with a good coverage of the European markets as well as an advanced and universally applicable solution.
"The rollout of acceptance of UPI-powered apps and RuPay cards across Europe is important to us, as we expect increased mobility of Indians in the continent in the coming years. We believe this partnership will empower Indian consumers to continue using their preferred payment modes as they travel across Europe," Shukla expressed.