New Delhi,In a groundbreaking revelation, India has asserted its dominance in the UPI revolution, with foreign tourists now actively embracing the hassle-free UPI payment gateway. CheqUPI, a leading UPI wallet provider for international travelers, recently conducted a comprehensive survey shedding light on the intricacies of transactions carried out by foreign tourists primarily through online payment apps.
Between August 1, 2023, and October 31, 2023, the survey recorded a remarkable 10,300+ transactions, totaling a transaction volume of Rs 80 lakh. These numbers underscore the burgeoning popularity and positive impact of UPI services on foreign tourists visiting India.
Foreign tourists were actively involved in transactions at more than 4726 merchants across the country. Notably, 29% of these transactions took place online, while a significant 71% were executed offline using QR code scan and pay technology.
The survey underscores the pivotal role played by India’s technological advancements, particularly the seamless scan and pay technology, in revolutionizing the travel experience for foreign tourists. This has, in turn, contributed to the robust growth of India’s tourism sector.
High transaction volumes were observed on popular online platforms such as Bigbasket, Swiggy, Uber, Redbus, and Amazon. Conversely, offline transactions were predominantly directed towards small bakeries, cafes, and various retail chains, illustrating the widespread acceptance and versatility of UPI.
Manish Kumar Shukla, the co-founder of CheqUPI, expressed the company’s commitment to providing foreign travelers with a seamless and hassle-free payment experience. Aligning with the ethos of ‘Atithi Devo Bhava’ (Guest is God), CheqUPI’s innovative digital payment solution aims to accelerate the development of an inclusive digital payment ecosystem.
As UPI continues to establish its foothold in Person to Merchant (P2M) transactions, the survey findings indicate a positive trajectory for UPI services, showcasing their ability to cater to the diverse payment needs of foreign tourists.
