Visiting India? RBI May Allow Foreign Tourists To Pay Via UPI Wallets
April 23, 2026
RBI proposes rupee prepaid wallets for foreign visitors and NRIs, linked to UPI for merchant payments only, funded via forex, with unused balance refundable in foreign currency
Published By :
News18.com
Last Updated:April 23, 2026, 12:45 IST
RBI proposes rupee prepaid wallets for foreign visitors and NRIs, linked to UPI for merchant payments only, funded via forex, with unused balance refundable in foreign currency
The Reserve Bank of India (RBI) has proposed allowing banks and non-bank entities to issue prepaid payment instruments (PPIs) to foreign nationals and non-resident Indians (NRIs) visiting India.
PPIs are proposed to be issued in the denomination of rupees.
According to the draft proposal by RBI, the facility is expected to begin first for G20 travelers at select international airports. These PPIs will be issued in Indian Rupees and will be fully KYC-compliant.
It will be issued following physical verification of passport and Visa of the customers being done at the point of the issuance.
It aims to allow more options to pay digitally for foreign travelers in the country and promote wider use of UPI-based transactions.
UPI-Linked Wallets For Merchant Payments Only
The PPIs will be issued in the form of wallets linked to UPI. However, usage will be restricted to merchant payments (P2M) only, meaning users cannot transfer funds to individuals.
Loading and reloading of these wallets will be allowed only against receipt of foreign exchange. This can be done through cash or other approved payment instruments. Conversion into Indian Rupees will be carried out only by entities authorised under FEMA regulations.
Any unutilised balance in these wallets can either be encashed in foreign currency or transferred back to the original payment source, in line with foreign exchange norms.
News18 Newsletter
Handpicked stories, in your inbox
A newsletter with the best of our journalism
First Published:
April 23, 2026, 12:45 IST
News business banking-finance Visiting India? RBI May Allow Foreign Tourists To Pay Via UPI Wallets
Disclaimer: Comments reflect users’ views, not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Loading comments...
Read More
News18.com
Last Updated:April 23, 2026, 12:45 IST
RBI proposes rupee prepaid wallets for foreign visitors and NRIs, linked to UPI for merchant payments only, funded via forex, with unused balance refundable in foreign currency
The Reserve Bank of India (RBI) has proposed allowing banks and non-bank entities to issue prepaid payment instruments (PPIs) to foreign nationals and non-resident Indians (NRIs) visiting India.
PPIs are proposed to be issued in the denomination of rupees.
According to the draft proposal by RBI, the facility is expected to begin first for G20 travelers at select international airports. These PPIs will be issued in Indian Rupees and will be fully KYC-compliant.
It will be issued following physical verification of passport and Visa of the customers being done at the point of the issuance.
It aims to allow more options to pay digitally for foreign travelers in the country and promote wider use of UPI-based transactions.
UPI-Linked Wallets For Merchant Payments Only
The PPIs will be issued in the form of wallets linked to UPI. However, usage will be restricted to merchant payments (P2M) only, meaning users cannot transfer funds to individuals.
Loading and reloading of these wallets will be allowed only against receipt of foreign exchange. This can be done through cash or other approved payment instruments. Conversion into Indian Rupees will be carried out only by entities authorised under FEMA regulations.
Any unutilised balance in these wallets can either be encashed in foreign currency or transferred back to the original payment source, in line with foreign exchange norms.
News18 Newsletter
Handpicked stories, in your inbox
A newsletter with the best of our journalism
First Published:
April 23, 2026, 12:45 IST
News business banking-finance Visiting India? RBI May Allow Foreign Tourists To Pay Via UPI Wallets
Disclaimer: Comments reflect users’ views, not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Loading comments...
Read More