EbixCash Limited, a subsidiary of US-based Ebix Inc, has become the first company in India to launch and enable Unified Payments Interface (UPI) transactions for foreign nationals visiting India.
* On 8th February 2023, the RBI proposed permitting inbound travellers access to UPI for merchant payments (P2M) while they are in the country.
* The facility will initially be extended to travellers from G-20 countries arriving at select international airports and later across all other entry points.
* The central bank had also recently allowed non-resident Indians, who have international mobile numbers linked to their NRE/NRO accounts, to use the UPI network when in India.
* “As a part of that initiative, EbixCash has become the first entity to enable UPI services for foreign delegates attending the G-20 summit. EbixCash will carry out a pilot launch shortly in Bangalore at the G-20 summit, involving dignitaries from across the world”.
* EbixCash World Money is the foreign exchange division of EbixCash and has a network of over 81 retail branches, 250 franchisee partners and duty-free shops, 27 bank clients, 1,200 corporate clients and 5-star hotels.
* It is a leading player in India’s airport and seaport Money Exchange business with retail kiosks in 20 international airports, and 12 seaports. Ebix Inc is a leading international supplier of on-demand software and e-commerce services to the insurance, financial, healthcare and e-learning industries...
Source : The Hindu Businessline