NPCI has partnered with HSBC India and J.P. Morgan Payments to enable real-time foreign exchange settlement for cross-border UPI transactions, as India’s payments network pushes deeper into international use cases. The move is meant to make overseas UPI payments more transparent by showing users the exact rupee amount before they authorize a transaction.
Under the HSBC India arrangement, the bank will provide real-time FX rates through direct API integration, allowing customers to see the INR amount payable at the point of purchase abroad. NPCI said the setup is intended to simplify international digital payments for Indian travellers and reduce uncertainty around conversion costs.
The parallel partnership with J.P. Morgan Payments will support real-time FX conversion and settlement across multiple currencies. Together, the deals add more settlement infrastructure to UPI as NPCI expands the system’s global reach.
NPCI said UPI is now live in ten countries, including Singapore, the UAE, Nepal, Bhutan, Mauritius, France, Sri Lanka, Greece, Qatar and Cambodia. The company has not disclosed when the real-time forex feature will go live for users or which banks and apps will roll it out first.
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