Indians travelling to Qatar will now be able to use UPI for payments | Economy & Policy News
Indians in Qatar can now make payments using UPI by scanning a QR code, as NPCI International Payments (NIPL) signed an agreement with QNB, the leading financial institution in the Middle East and Africa, based in Qatar.
This will allow UPI payments in Qatar via the QNB merchant network, benefiting Indian travellers visiting and transiting through the country.
“We believe that enabling UPI acceptance in Qatar will offer substantial benefits to the large number of Indians visiting the country and simplifying their transactions,” said Anubhav Sharma, deputy chief of partnerships and business development at NPCI International.
This collaboration will enable Indian travellers to use their preferred payment methods at retail outlets, tourist spots, leisure venues, duty-free stores, and hotels.
According to a release from NPCI, it is expected that 9.8 million Indian tourists will visit the Gulf Cooperation Council (GCC) countries in 2024, with the UAE alone expecting 5.29 million of these arrivals from India.
By implementing UPI payments, merchants in Qatar can provide a more seamless payment and checkout experience.
Adel Ali Al-Malki, senior executive VP, QNB Group Retail Banking, said, “With this new digital payment solution acceptance, we are revolutionising the way transactions are conducted, enhancing the travel experience like never before.”
What does UPI work?
UPI is a mobile-centric payment system developed by the National Payments Corporation of India (NPCI). It simplifies transactions by allowing users to send and receive money through QR code scans or phone numbers. Unlike many digital payment methods, the funds are directly debited from the linked bank account.
UPI can be used on BHIM, the official app, and also through various third-party platforms such as Google Pay, Amazon Pay, PhonePe, BharatPe, among others. Most Indian banks support UPI payments, which, unlike credit or debit card transactions, do not incur any charges.
To enhance security and prevent fraud, the NPCI has incorporated several features. The UPI account is directly tied to the phone number, and if the SIM card is removed, UPI functionality is disabled. Occasionally, users may experience downtime due to service issues. To address this, NPCI introduced UPI Lite, which allows transactions without requiring a PIN or internet connection. However, UPI Lite has a transaction limit of Rs 500 and a daily limit of Rs 4,000.
The countries that officially support UPI payment include Bhutan, France, the UAE, Sri Lanka, Mauritius, Singapore, and Nepal.
[With agency inputs]
First Published: Jul 12 2024 | 10:08 AM IST
