Bank of Baroda has upgraded its UPI app, bob इ Pay, introducing international services to enable easy cross-border digital payments for Indian and NRI customers. The new features include UPI Global Acceptance, Foreign Inward Remittances, and UPI services tailored for NRIs.
“UPI has revolutionised digital payments in India, and we are pleased to now extend its benefits to international use through bob इ Pay International. These new features provide greater flexibility and convenience to our resident & NRI customers and reflects our commitment to develop user-centric and innovative digital banking solutions,” Sanjay Mudaliar, the bank’s Executive Director, said.
Under UPI Global Acceptance, customers can use the bob इ Pay app to pay international merchants via QR code from their Indian bank accounts. This service is available in eight countries: Mauritius, Singapore, UAE, USA, France, Sri Lanka, Nepal, and Bhutan. Transaction details show amounts in both local and Indian currency, along with exchange rates and fees.
The Foreign Inward Remittance feature allows real-time 24x7 money transfers from Singapore residents to Bank of Baroda customers in India. Singapore senders can transfer funds by entering the recipient’s UPI ID, sending money in Singapore Dollars which converts to Indian Rupees credited directly to the recipient’s account.
NRI customers can link their NRE or NRO accounts to bob इ Pay using a domestic mobile number during visits to India. They can then send and receive UPI payments both at merchant outlets and via peer-to-peer transfers.
All international UPI transactions on the app have a daily and per transaction limit of Rs. 1,00,000, consistent with domestic UPI limits.
bob इ Pay, a Bank of Baroda indigenous UPI app, has quickly gained 1.3 million registered users. The app is available on Play Store and App Store. Customers can activate the new services via the app’s settings.
Source Name : Economic Times