India’s leading fintech and merchant payments company Paytm (One97 Communications Ltd.) has made a big announcement. The company said that now NRIs (Non-Resident Indians) from 12 countries can login to the Paytm app using their international mobile number and easily make UPI payments through their NRE or NRO accounts.
This new facility has been launched with the help of NPCI (National Payments Corporation of India) and is currently available to Indians in 12 countries including Singapore, Australia, Canada, Hong Kong, Oman, Qatar, US, Saudi Arabia, UAE, UK, France and Malaysia.
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With this initiative, NRIs will now be able to make direct payments at shops, restaurants, merchants as well as online platforms in India by scanning QR codes. For this they will not need any international payment gateway or currency conversion. Also they can transfer money between their NRE/NRO accounts or send money instantly to any UPI ID or UPI linked mobile number.
“For India, our dream is to connect every Indian with technology made in India. Now allowing NRIs to use Paytm UPI from their international numbers is the next important step in that journey,” a Paytm spokesperson said.
Because of this new initiative “Made in India Fintech” The concept will further strengthen and help digital payments technology in India to reach the global level. This move by Paytm will give new momentum not only to NRIs but also to India’s financial digital infrastructure.
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