The Reserve Bank of India (RBI) is planning to make digital payments easier for foreign visitors in India.
A new proposal could soon allow banks and financial companies to issue prepaid wallets to foreign nationals and NRIs during their stay.
These wallets, known as prepaid payment instruments (PPIs), will be issued in Indian Rupees and are designed to simplify how travelers spend money in the country.
A Digital Boost for Foreign Travelers
Under the draft plan, the facility may first roll out for G20 travelers at select international airports.
Getting one of these wallets will be straightforward. Visitors will receive them after a quick verification of their passport and visa at the airport.
The wallets will also be fully KYC-compliant, ensuring safety and transparency.
The goal is simple: give international travelers an easy, cashless way to pay while encouraging the use of India’s fast-growing digital payment system, especially Unified Payments Interface.
How These Wallets Will Work
These PPIs will be linked to UPI, but with a clear limitation.
They can only be used for merchant payments, meaning travelers can pay shops, restaurants, and services—but cannot send money to individuals.
Adding money to these wallets will also follow strict rules.
Funds can only be loaded using foreign currency, either in cash or through approved payment methods.
The conversion into rupees will be handled by authorised entities under FEMA guidelines.
If there’s any money left in the wallet at the end of the trip, it won’t go to waste.
Travelers can either convert it back into foreign currency or have it returned to their original payment source, as per foreign exchange rules.
Overall, the move aims to make spending in India smoother, safer, and more convenient for global visitors while pushing the country further toward a digital-first economy.
