DPI Brief — July 05, 2026
DPI Brief — July 05, 2026 1. NPCI Teams Up with HSBC & JP Morgan to Simplify International UPI Payments [L2 — Payments] The National Payments Corporation of India (NPCI) on July 1 signed separate partnerships with HSBC India and J.P. Morgan Payments to make international UPI payments smoother and more transparent. The collaborations introduce real-time foreign exchange (FX) conversion and settlement for international transactions, allowing Indian travellers to see the exact amount in rupees before making a UPI payment abroad. This is a significant step toward reducing friction in cross-border retail payments and strengthening the global interoperability of UPI rails. With these partnerships, NPCI is layering institutional-grade FX infrastructure on top of the UPI network, moving beyond bilateral linkages to a more scalable model for international expansion. ...