NPCI partners with HSBC India & JP Morgan Payments to enable real-time FX settlement for international UPI pay
NPCI is partnering with HSBC India and JP Morgan Payments to provide real-time FX conversion for international UPI transactions.Summary
The National Payments Corporation of India (NPCI) has entered into strategic partnerships with HSBC India and JP Morgan Payments to enhance cross-border UPI transactions. These collaborations aim to introduce real-time foreign exchange (FX) conversion and faster settlement processes, providing greater transparency and efficiency for Indian travelers making payments abroad.
Through the partnership with HSBC India, real-time exchange rates will be provided via direct API integration, allowing users to see the exact INR amount before completing a transaction. Simultaneously, the collaboration with JP Morgan Payments will leverage its FX and API capabilities to support end-to-end conversion and settlement across multiple currencies. These
(Source：The Economic Times)