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UPI's Global Leap: Merchants Need Instant Settlements
18 Jan
Summary
- Global UPI expansion requires stronger merchant use cases.
- Faster settlement cycles are crucial for overseas small businesses.
- Pay10 plans global launches from 2026, adhering to norms.
Expanding the Unified Payments Interface (UPI) globally necessitates the development of robust merchant use cases and expedited settlement cycles, especially for smaller international businesses. Prabhpreet Singh Gill, founder of payments gateway Pay10, highlighted that the current lack of compelling business cases hinders UPI acceptance abroad. Instantaneous settlements, a cornerstone of UPI's domestic success, are crucial for overseas merchants.
Gill indicated that payment systems like UPI have raised global merchant awareness about instant payment settlements. He urged the National Payments Corporation of India (NPCI) to ensure fair settlement timelines to accelerate worldwide adoption. Pay10, actively engaging with regulators in 16 countries, aims for international launches starting in 2026.
Pay10 is preparing for global regulatory requirements, noting minimal differences in norms across international payment regulators. The company views compliance not as a hurdle but as a default standard for its operations worldwide, absorbing marginal costs to enhance security and reduce fraud, thereby fostering successful global regulatory partnerships.
