Unified Payment Interface(UPI) was introduced in 2016 in India with a view to encourage digital payments. Currently UPI is being used even in tea stalls, chat bhandars etc which shows the people enthusiasm on using UPI payments in their day-to-day life.
Noticing this, India’s central bank RBI is planning to tie-up with “Pay-Now” users of Singapore as a initial step towards implementing foreign digital transactions. An agreement has been done in between RBI and Monetary Authority of Singapore which aims to implement this plan with effect from 2022 July.
If this has been done, it would become easier to do UPI payments to other countries too. As a trial part, RBI is planning to implement this to Singapore first and later it would be extended to G 20 Countries.
So be ready to do UPI payments to your loved ones(if any) in Singapore with effect from July 2022.