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Which company become the first company in India to launch and enable UPI transactions for foreign nationals visiting India?
A)
CoinTab
B)
EbixCash
C)
MobiKwik
D)
Ultracash

Correct Answer :   EbixCash


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

V V Ramana Reddy, Published On : February 16, 2023
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