- India’s digital payments revolution has taken another significant leap on the global stage.
- The National Payments Corporation of India (NPCI) has announced strategic partnerships with HSBC India and JP Morgan Payments to introduce real-time foreign exchange (FX) conversion and settlement for international Unified Payments Interface (UPI) transactions.
- The initiative is expected to make overseas UPI payments faster, more transparent and more convenient for Indian travellers by displaying the exact amount in Indian Rupees before confirming a transaction.
A Major Upgrade for International UPI
- The latest collaborations are designed to simplify cross-border digital payments by integrating real-time foreign exchange conversion into the UPI ecosystem.
- Currently, international card transactions often involve exchange rate fluctuations and hidden conversion charges. Under the new arrangement, UPI users will know the exact rupee amount before making a payment, offering greater transparency and certainty.
- The move further strengthens UPI’s position as a globally accepted digital payment platform.
HSBC India to Power Real-Time Forex Conversion
Under the partnership, HSBC India will provide live foreign exchange rates through direct API integration.
This will enable Indian customers making purchases abroad to:
- View the exact amount payable in Indian Rupees.
- Receive transparent exchange rates before authorising payments.
- Complete transactions seamlessly while overseas merchants receive funds in their local currency.
HSBC’s extensive international banking network will also support secure and round-the-clock settlement of cross-border transactions.
JP Morgan Payments to Enhance Global Settlement
NPCI has also entered into a separate collaboration with JP Morgan Payments.
The partnership will leverage JP Morgan’s global foreign exchange capabilities to support:
- Multi-currency settlement.
- Real-time FX conversion.
- Faster international payment processing.
- Improved settlement efficiency across global markets.
Together, the two partnerships aim to make international UPI transactions smoother, quicker and more reliable.
Transparent Payments for Indian Travellers
- One of the biggest benefits of the initiative is the elimination of uncertainty around exchange rates.
- Instead of seeing the converted amount only after the transaction is completed, users will be able to view the exact cost in Indian Rupees before confirming payment.
- This improves budgeting, enhances transparency and reduces the likelihood of unexpected foreign exchange charges.
UPI’s Global Expansion Continues
The announcement comes as NPCI continues to rapidly expand UPI’s international footprint.
Recently, NPCI International Payments Limited (NIPL) partnered with ACLEDA Bank Plc to enable UPI acceptance in Cambodia, making it the ninth country where Indian travellers can use UPI.
UPI is currently accepted in:
- Singapore
- United Arab Emirates
- Nepal
- Bhutan
- Mauritius
- France
- Sri Lanka
- Qatar
- Cambodia
NPCI is also working to expand UPI services in countries such as Japan, Greece and the Maldives.
International UPI Usage on the Rise
UPI’s international adoption continues to grow rapidly.
According to NPCI data:
- International UPI transaction volumes crossed one million for the first time during FY26.
- Transactions increased from 0.75 million in FY25 to 1.48 million in FY26 (up to December 2025).
- Transaction value rose from ₹258.53 crore in FY25 to ₹330.43 crore in FY26.
The rapid increase reflects growing acceptance of India’s Digital Public Infrastructure across international markets.
Conclusion
- NPCI’s partnerships with HSBC India and JP Morgan Payments represent another milestone in the internationalisation of UPI.
- By enabling real-time forex conversion and efficient cross-border settlement, the initiative will significantly improve the payment experience for Indian travellers and businesses operating globally.
- As UPI continues to expand into new countries, these collaborations reinforce India’s leadership in digital public infrastructure and strengthen its vision of building a seamless global digital payments ecosystem.