Paytm has officially launched International UPI, a feature that allows Indian travelers to make seamless, cashless transactions at international destinations where UPI is accepted. One97 Communications Limited (OCL), Paytm’s parent company, introduced this service as part of its efforts to expand beyond domestic operations. This feature is available in countries such as the UAE, Singapore, France, Mauritius, Bhutan, and Nepal, aiming to provide Indian tourists with greater payment convenience.
How Paytm’s International UPI Works
- Simple Activation: Users can quickly link their bank accounts to activate the feature. When a UPI-enabled QR code is scanned abroad, the app prompts activation for immediate use.
- Hassle-Free Payments: International UPI works as seamlessly as domestic UPI. Travelers can make payments in just a few taps without requiring cash or foreign cards.
- Customizable Usage: The feature allows users to choose an activation period of 1 to 90 days and deactivate it upon returning to India, enhancing security.
- Transparency: Users can view exact foreign exchange rates and any bank fees before confirming payments. Post-travel, the app prevents unintended transactions with foreign merchants.
A Paytm spokesperson stated, “As pioneers of mobile payments in India, we continuously innovate to bring greater convenience to our users. With International UPI, we are making foreign travel secure and cashless, especially during the holiday season.”
Benefits for Indian Travelers
- Convenience: Enables smooth, cashless payments for shopping, dining, and other expenses abroad.
- Security: Offers full control over payment activation and deactivation to safeguard against accidental usage.
- Flexibility: Transparent cost structure and easy setup enhance user confidence.
Paytm’s Strategic Growth
The launch of International UPI aligns with Paytm’s mission to diversify its services and cement its position as a leader in digital payments. It not only strengthens its competitive edge but also taps into a growing market of Indian outbound travelers.
Stock Market Response
- Current Performance: Paytm’s shares (One97 Communications Ltd.) rose 3.62% today to ₹812.25, reflecting investor optimism surrounding the announcement.
- Short-Term Trends: The stock has gained 4.47% over the last five days and 11.61% in the past month, showcasing strong growth momentum.
- Outlook: With increased transaction volumes expected from travelers during the holiday season, Paytm’s revenues may see a boost, potentially driving further stock appreciation.
Paytm’s International UPI is a game-changing innovation, offering Indian travelers unparalleled convenience and security for global transactions. This move not only enhances user experience but also positions Paytm to expand its market presence and generate long-term value for its shareholders.
Disclaimer: This content is for informational purposes only and should not be considered financial or investment advice. Readers are advised to research or consult a financial advisor before making investment decisions.
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