Intro
NPCI, HSBC enable real-time forex settlement for seamless, transparent international UPI payments across global markets.
New Delhi
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, aiming to enhance transparency and efficiency in international digital payments.
Under the collaboration, HSBC India will provide live FX rates through direct application programming interface (API) integration. This will allow users to view the exact amount payable in Indian rupees at the time of transaction when making payments abroad, improving clarity and reducing uncertainty around currency conversion.
The initiative is expected to significantly improve the user experience for Indian travellers using UPI internationally. By enabling instant FX conversion and settlement, the system will ensure that merchants and financial institutions abroad receive payments in their local currencies without delays, making transactions smoother and more efficient.
NPCI stated that the partnership is a key step in strengthening the global acceptance of India’s digital payments infrastructure. The organisation highlighted that the move will enhance operational efficiency in cross-border payments while supporting the expansion of UPI’s international footprint.
An NPCI spokesperson noted that the collaboration with HSBC represents an important advancement in delivering real-time forex conversion and transparent pricing for users. The spokesperson added that it will improve convenience for customers while reinforcing trust in digital payment systems.
The API-based framework will leverage HSBC India’s global banking network and payments infrastructure to enable secure, round-the-clock international transactions. This is expected to make UPI-based payments faster, more reliable, and more widely accepted across global markets.
At present, UPI services are operational in nine countries, including Singapore, the United Arab Emirates, Nepal, Bhutan, Mauritius, France, Sri Lanka, Qatar, and Cambodia. These integrations allow Indian users to make QR-code-based payments directly from their domestic bank accounts in rupees while travelling abroad.
NPCI, which operates under the guidance of the Reserve Bank of India and the Indian Banks’ Association, has been central to building India’s digital payments ecosystem. Its portfolio includes key platforms such as UPI, RuPay, IMPS, NACH, NETC, AePS, and eRUPI, which collectively support the country’s growing cashless economy.
The latest partnership marks another step toward expanding the global usability of India’s payment systems while improving efficiency and transparency in international financial transactions.
