UPI Goes Global: Will Your Family Save on Remittances?
PM Modi wants UPI expanded to more countries so Indians abroad can send money home cheaper. Right now, remittance fees eat up 3–7% of every transfer. If UPI connects globally, that cost could drop sharply.
Indians send ₹9 lakh crore home every year — fees alone could buy 180 crore cups of chai.
Your family abroad loses this much annually to remittance fees alone
Key Takeaways
Check if your family member's country (UAE, Singapore, UK, US) already supports UPI-based remittances and switch from traditional wire transfers immediately to save on fees.
Compare remittance services using platforms like Wise, Remitly, or your bank's forex transfer — ask specifically if UPI-linked transfers are available for that corridor.
Ask your NRI family members to link their foreign bank account to an India-enabled UPI corridor now — early adopters pay the least until operators adjust pricing.
PM Modi wants UPI expanded to more countries so Indians abroad can send money home cheaper. Right now, remittance fees eat up 3–7% of every transfer. If UPI connects globally, that cost could drop sharply.
Here's what happened: PM Modi at Global Fintech Fest 2025 urged the fintech sector to expand UPI's global reach, especially to countries with large Indian diaspora and high trade volumes with India.. UPI is currently active in 11 countries including Singapore, UAE, France, and Mauritius, with cross-border linkages allowing some real-time transfers at lower cost.. The push aims to slash remittance transaction costs — currently averaging 3–7% per transfer — by connecting UPI directly with local payment systems abroad..
What you should do: Check if your family member's country (UAE, Singapore, UK, US) already supports UPI-based remittances and switch from traditional wire transfers immediately to save on fees.. Compare remittance services using platforms like Wise, Remitly, or your bank's forex transfer — ask specifically if UPI-linked transfers are available for that corridor.. Ask your NRI family members to link their foreign bank account to an India-enabled UPI corridor now — early adopters pay the least until operators adjust pricing..
Singapore's PayNow is already linked to UPI — Indians sending money from Singapore to India can transfer in seconds with near-zero fees right now, no middleman needed.
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This article is reported by GoCredit's Editorial Team based on the source above. GoCredit synthesises, contextualises, and adds India-borrower-relevant analysis. We are not the original publisher.
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