RBI Enables RuPay Cards for International Use, Enhances Global Acceptance

New Delhi: The Reserve Bank of India has announced new measures to expand payment options for Indian travellers abroad. Banks in India will now be allowed to issue RuPay Prepaid Forex cards, which can be used at ATMs, PoS machines, and online merchants overseas.

Additionally, RuPay Debit, Credit, and Prepaid Cards will be enabled for issuance in foreign jurisdictions, making them usable internationally.

These steps are expected to increase the acceptance and accessibility of RuPay cards globally.

The RBI has also streamlined the process flow and membership criteria for the Bharat Bill Payment System (BBPS), a platform that facilitates bill payments.

Furthermore, the scope of the BBPS has been expanded to include all categories of payments, both recurring and non-recurring, and to facilitate cross-border bill payments. The RBI aims to enhance the efficiency of the system and encourage greater participation.

In another development, the RBI plans to expand the reach of e-RUPI digital vouchers by allowing non-bank prepaid payment instrument issuers to issue them and simplifying the issuance and redemption processes.

These measures aim to make e-RUPI vouchers more accessible and deepen digital payment penetration in the country. It is a person-specific and purpose-specific cashless voucher, that can be redeemed without the need for a card, digital payments app, or Internet banking access.