Under the collaboration, customers making purchases overseas using UPI will be able to view the exact amount payable in Indian rupees (INR) at the point of sale through real-time FX pricing. The initiative is aimed at enhancing transparency in foreign exchange conversion while simplifying cross-border payment settlements.
UPI is currently live in nine countries—Singapore, the United Arab Emirates, Nepal, Bhutan, Mauritius, France, Sri Lanka, Qatar and Cambodia—allowing Indian travellers to make QR code-based payments directly from their Indian bank accounts in INR. Building on this international footprint, the partnership with HSBC India is expected to improve the cross-border payment experience through real-time FX pricing.
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Under the arrangement, HSBC India will act as the banking partner, providing real-time FX rates through direct API integration. The solution will also enable international merchants and financial institutions to receive funds in their local currencies while simplifying the end-to-end settlement process.
“Our collaboration with HSBC represents an important step toward enabling efficient forex conversion and real-time settlement for cross-border transactions, delivering transparent payment experiences for users,” an NPCI spokesperson said. “This partnership will further enhance the convenience of international payments while supporting the growing global acceptance of India’s digital public infrastructure.”
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The API-enabled infrastructure, backed by HSBC India’s global payments capabilities and international network, will support secure, 24×7 cross-border transactions.
According to NPCI, the initiative is designed to make international UPI payments faster, more transparent and more convenient for users and ecosystem participants across markets.
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