RBI has introduced a new framework for licensed payment aggregators and payment gateways for cross-border merchant payments, making them fully responsible for PMLA compliance and suspicious transaction reporting. The regulator aims to bring clarity and clearer ownership to merchant payments, while also allowing UPI to be used—raising hopes for a true India cross-border payments upgrade.
India and the central bank are reportedly in talks with Ant International to integrate UPI with Alipay+ for smoother cross-border payments. The plan would allow Indian travelers abroad to use UPI at merchants that are connected to Alipay+, reducing friction and improving payment convenience overseas. Sources say this could mark a major step for international usability of UPI.
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