Paytm Introduces UPI International for Cashless Payments Abroad

One97 Communications Limited (OCL), the parent company of Paytm, has launched its UPI International feature, allowing Indian travellers to make cashless payments at select global locations. This service enables Paytm users to transact in countries where the Unified Payments Interface (UPI) is accepted, including the UAE, Singapore, France, Mauritius, Bhutan, and Nepal.

How It Works: Quick Setup & Control

Activating UPI International on the Paytm app is simple. Users link their bank accounts, and when they scan a UPI-enabled QR code abroad, the app prompts activation for a duration of 1 to 90 days based on the user’s preference. For added security, users can deactivate the feature anytime, making sure that the transactions are only made when intended.

During transactions, the app displays real-time foreign exchange rates and any bank-applied conversion fees for transparency. Travellers will be able to now conveniently pay for shopping, dining, and other experiences without worrying about currency exchanges or carrying cash.

More Than Just Payments

To support effective budgeting and spending, Paytm has also introduced a UPI statement download feature. This tool provides users with a detailed record of their transactions, making it easier to track expenses during and after international travel. Paytm’s app includes additional features like UPI Lite for small transactions, RuPay Credit Card linkage with UPI, and an auto-pay option for recurring payments. 

Paytm’s Position

Paytm, India’s third largest UPI processor, saw its market share dip to 7% in October 2024 from 13% earlier this year. Paytm’s stock is currently trading at Rs.812.00, up 3.58% today, with a year-to-date gain of 25.68%. Despite challenges, the company posted a consolidated profit of Rs.930 crore in Q2FY25, reversing a Rs.292 crore loss from the same period last year.

Conclusion: In conclusion, Paytm’s UPI International will offer Indian travellers a practical way to manage cashless payments abroad, that includes convenience, transparency and safe transaction options.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.