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India and Malaysia have reached an agreement on UPI payments. This agreement will allow Indian citizens to use PhonePe, Google Pay, Paytm, and other payment platforms in Malaysia. UPI in Malaysia: The popularity of India’s Unified Payments Interface (UPI) is now being seen globally. Recently, NIPL, the international unit of the National Payments Corporation of India (NPCI), officially launched its services in Malaysia. This means that Indians traveling to Malaysia will now be able to make payments using UPI. They will no longer have to rely on money exchange or foreign currency. This move now recognizes India’s UPI in nine countries. You can use UPI for everything from shopping to business in these countries. Let’s learn how this feature works. Deal with Malaysia India and Malaysia have reached an agreement on UPI payments. Under this agreement, India’s NPCI International Payments Limited (NIPL) and Malaysia’s payment gateway RazorpayCurly have joined forces. Following this agreement, Indian citizens will be able to use PhonePe, Google Pay, Paytm, and other payment platforms in Malaysia to make payments. This feature will operate through the RazorpayCurly platform in Malaysia. Who will benefit? This new feature will benefit tourists visiting Malaysia. They will be able to use UPI for shopping and other purposes. They will also avoid the hefty fees associated with purchasing Malaysian Ringgit and international credit and debit cards. Businesses in Malaysia will also directly benefit. They will use UPI for their business payments, saving time for merchants in both countries. Which countries are supported by Indian UPI? 9 countries where you can make payments using Indian UPI. They include France, United Arab Emirates (UAE), Malaysia, Mauritius, Sri Lanka, Singapore, Bhutan, Nepal and Qatar. Read More: Bank Holiday: Banks will be closed for 5 days from today, check when bank branches will be closed in which states.
