India and Uzbekistan Enable UPI Payments for Travelers

NPCI International Payments Ltd (NIPL) and Uzbekistan's National Interbank Processing Centre (NIPC) signed a commercial agreement on August 30 to enable Indian travelers to pay merchants in Uzbekistan using the Unified Payments Interface (UPI). The deal was signed during a bilateral visit by Prime Minister Narendra Modi.

Under the agreement, UPI users can scan Uzbekistan's national interoperable QR code, UZQR, to make instant person-to-merchant payments. The HUMO payment system will act as the authorized partner for NIPL to facilitate cross-border merchant acceptance. This initiative has received approval from both the Reserve Bank of India and the Central Bank of Uzbekistan.

Uzbekistan is the 11th country to join the UPI international network. The partnership aims to lower foreign exchange markup costs and reduce the dependence of travelers on cash and international credit cards. NIPL and the Indian finance ministry have not yet released a specific rollout date or technical details concerning transaction fees and limits.