The National Payments Corporation of India (NPCI) has partnered with HSBC India to introduce real-time foreign exchange (FX) settlement for cross-border UPI transactions. The collaboration will enable Indian travellers to view live exchange rates and the exact INR payable at the point of purchase, making international digital payments faster, more transparent, and seamless across countries where UPI is accepted.
Key Highlights
- NPCI and HSBC India have partnered to enable real-time FX settlement for cross-border UPI transactions.
- Indian travellers will see live exchange rates and the exact INR amount before making payments abroad.
- The API-based solution will ensure faster settlement and local currency payouts for overseas merchants.
- UPI is currently accepted in nine countries, supporting India’s expanding global digital payments ecosystem.
New Delhi, July 01: The National Payments Corporation of India (NPCI) has announced a strategic partnership with HSBC India to introduce real-time foreign exchange (FX) settlement for cross-border Unified Payments Interface (UPI) transactions, marking another significant milestone in the global expansion of India’s digital payments infrastructure.
The collaboration aims to make international UPI payments more seamless, transparent, and efficient for Indian travellers by providing real-time exchange rates and instant foreign exchange conversion during overseas transactions.
Under the partnership, HSBC India will deliver live FX rates through direct API integration, allowing users to view the exact Indian Rupee (INR) amount payable before completing purchases abroad. This enhanced transparency will help travellers avoid uncertainty around exchange rates and transaction costs while making payments internationally.
The initiative is also expected to benefit overseas merchants and financial institutions by enabling them to receive payments in their local currencies, reducing settlement delays and improving operational efficiency.
According to NPCI, the partnership will significantly strengthen the efficiency of cross-border digital payments while supporting the growing international acceptance of India’s UPI ecosystem.
An NPCI spokesperson said the collaboration with HSBC India is an important step towards enabling efficient forex conversion and real-time settlement for cross-border transactions, ensuring transparent and convenient payment experiences for users.
The spokesperson further noted that the initiative supports the wider adoption of India’s Digital Public Infrastructure (DPI) by making international transactions more convenient and reliable for Indian consumers travelling abroad.
Powered by HSBC India’s global payments network and API-enabled infrastructure, the solution will facilitate secure, real-time, and round-the-clock cross-border transactions, improving speed, reliability, and settlement efficiency for international UPI payments.
UPI is currently operational in nine countries—Singapore, the United Arab Emirates, Nepal, Bhutan, Mauritius, France, Sri Lanka, Qatar, and Cambodia—allowing Indian users to make QR code-based payments directly from their domestic bank accounts in Indian Rupees (INR).
The National Payments Corporation of India (NPCI) continues to play a pivotal role in India’s digital payments revolution by operating major retail payment platforms, including UPI, RuPay, IMPS, NACH, NETC, AePS, and eRUPI, under the guidance of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA).
Conclusion
The NPCI-HSBC India partnership marks a major advancement in cross-border UPI payments, offering Indian travellers real-time foreign exchange conversion, transparent pricing, and faster international transactions. As UPI continues expanding globally, collaborations like this will strengthen India’s leadership in digital payments while making overseas transactions simpler, safer, and more convenient.
