The collaboration will enable foreign visitors from G20 countries to make payments at over five crore merchant outlets across India, that accept QR Code-based UPI payments.
Sarvatra Technologies Ltd., a payments technology provider, has announced its collaboration with ICICI Bank, IDFC First Bank and Pine Labs Private Limited, to facilitate foreign visitors from G20 countries to make local payments using Unified Payments Interface (UPI) while they are in India.
With this, it has become the first payments provider in India to enable three out of the four entities selected by Reserve Bank of India (RBI) to launch the UPI payments facility to foreign travellers, the company said.
ICICI Bank, IDFC First Bank and Pine Labs Private Limited are being powered by Sarvatra Technologies to issue UPI linked wallets to eligible travellers at select international airports (Bengaluru, Mumbai and New Delhi) and meeting venues. The collaboration will enable foreign visitors from G20 countries to make payments at over five crore merchant outlets across India, that accept QR Code-based UPI payments, the firm said in a statement.
Upon completion of full KYC, UPI linked wallets will be issued to the travellers coming to India. The customer would need to download the app of these entities. After downloading the app, they can sign in to use the INR denominated UPI linked wallets to pay at merchant and retail outlets via scanning of UPI QR codes. On departure, the balance can be encashed at the airport counters.
