NewsJuly 2, 20261 min read
FPSASIA_PACIndia
NPCI Partners HSBC India and JP Morgan for Real-Time UPI Forex Settlement
International UPI transaction volumes nearly doubled from 750,000 in FY25 to 1.48 million in FY26. Transaction value rose 28% to Rs 330.43 crore from Rs 258.53 crore in the prior year.
CORRECTION (July 6, 2026)
Replace primary source with Business Standard: https://www.business-standard.com/industry/banking/npci-hsbc-jpmorgan-partner-for-real-time-fx-on-overseas-upi-payments-126070100726_1.html and/or JP Morgan newsroom: https://www.jpmorgan.com/payments/newsroom/npci-cross-border-upi-real-time-fx
NPCI announced on July 1 that HSBC India and JP Morgan Payments will supply real-time foreign exchange rates via direct API integration for international UPI transactions. Users paying at overseas merchants will see the exact rupee debit amount before confirming a transaction.
International UPI transaction volumes nearly doubled from 750,000 in FY25 to 1.48 million in FY26. Transaction value rose 28% to Rs 330.43 crore from Rs 258.53 crore in the prior year.
UPI merchant payments are live in nine countries: Singapore, the UAE, Nepal, Bhutan, Mauritius, France, Sri Lanka, Qatar, and Cambodia. NPCI International is expanding to Japan, the Maldives, and Greece.
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