India Introduces UPI One World Wallet for International Travelers Amid Rising Tourist Engagement

India’s retail payments body, the National Payments Corporation of India (NPCI), has introduced a new initiative called the UPI One World wallet aimed at international travelers visiting India. This digital wallet is designed to enable travelers to make payments using the Unified Payments Interface (UPI) system, even if they do not have an Indian mobile number or bank account.

Launched during the G20 Summit in 2023, UPI One World is a prepaid wallet that facilitates digital payments in Indian Rupees (INR) across merchants in India. Traditionally, Indian residents use UPI by linking their phone numbers and bank accounts to create a virtual payment ID, which allows them to conduct bank-to-bank transactions instantly. Payments are made by scanning a merchant’s QR code with the UPI app and entering a personal identification number (PIN). However, UPI One World eliminates the need for an Indian mobile number or bank account, simplifying the process for international visitors.

According to NPCI, international travelers can access the UPI One World wallet through authorized partners at selected airports in Indian cities. The process requires travelers to present their passports and visas for documentation. They can then load the wallet in INR using their debit or credit cards or through foreign currency exchange at issuer counters.

The introduction of UPI One World is seen as a strategic move to increase international visitor spending in India. The latest Economic Survey for 2023-24 by the Indian government highlighted that the country earned INR 2.3 trillion ($27.5 billion) from tourism in 2023, reflecting a 66% increase over 2022. Despite this growth, a report from the World Travel and Tourism Council (WTTC) indicated that international visitor spending in India was still 14% below pre-pandemic levels. By enabling digital payments for international travelers, India aims to encourage higher spending from visitors, as they can avoid the forex markup on card transactions and manage their currency more efficiently. The UPI One World wallet also protects travelers from relying on unlicensed currency exchange outlets for INR purchases.

In related travel and tourism news, Visit Maldives is launching a three-city roadshow in India named ‘Welcome India’ starting on Tuesday. The roadshow will take place in Delhi, Mumbai, and Bangalore, aiming to boost Indian tourist visits to the Maldives. This initiative follows a significant decline of about 40% in Indian tourists to the Maldives between January and April 15 this year. The decline was partly due to the trending hashtag #BoycottMaldives on Indian social media, which emerged after a diplomatic dispute between India and the Maldives in early January. The fallout from this incident has continued, with data from the Maldives’ Ministry of Tourism revealing that only 69,500 Indians visited the Maldives up to July 23 this year, compared to 119,900 in the same period last year—a 42% decrease. As a result, India has fallen from the Maldives’ second-largest source market to sixth place, with its share of visitors dropping from 11.6% to 6.1%.

In the corporate sector, travel distribution company TBO.com has appointed Gerardo Del Río as its new president for international business. Del Río has been tasked with driving TBO’s global expansion. The company, which launched its IPO in May, had a strong debut on the stock market. In its IPO prospectus, TBO had indicated plans to use the raised funds for strategic acquisitions, particularly those that would expand its geographic footprint. Co-founder and joint managing director Gaurav Bhatnagar previously stated that TBO intends to deepen its presence in existing markets and expand geographically, especially in regions like Europe, Southeast Asia, and Latin America. TBO also operates in the Middle East, focusing on key markets such as the United Arab Emirates, Saudi Arabia, Kuwait, and Qatar.

IndiGo, India’s largest low-cost airline, has announced significant digital enhancements to its website and mobile application, as reported by Peden Doma Bhutia. These upgrades are part of a broader effort to improve the airline’s offerings, which also includes the introduction of in-flight entertainment accessible through the IndiGo app. This move comes shortly after IndiGo revealed its plans to introduce a business class configuration, reflecting the airline’s ambition to cater to a wider range of travelers. IndiGo CEO Pieter Elbers mentioned that the app-based in-flight entertainment model is currently being tested on the Delhi-Goa route. This development also aligns with IndiGo’s recent order for widebody aircraft in April, which hints at the airline’s plans to potentially offer long-haul international flights.

The interest in international travel to India has seen a notable rise, with Wego, a flight search and booking platform, reporting a 40.71% increase in international flight searches to India in the first half of 2024 compared to the same period last year. This surge has even surpassed the search numbers from the January-June period of 2019. The increased interest is primarily driven by Gulf countries, with Saudi Arabia leading the way, accounting for 42% of all international searches to India. Other key markets include the United Arab Emirates, Kuwait, Qatar, and Oman. Additionally, travelers from Bahrain, the United States, Canada, the United Kingdom, and Thailand have also shown significant interest in traveling to India.

In another development, full-service carrier Vistara has announced that it will offer 20 minutes of complimentary Wi-Fi on its international flights, making it the first Indian airline to provide this service. The complimentary Wi-Fi will be available on Vistara’s Boeing 787-9 Dreamliner and Airbus A321neo aircraft across all cabin classes. Vistara has also introduced various Wi-Fi plans that passengers can purchase either pre-flight or on board, with payment options available via international or Indian credit or debit cards.

Azerbaijan is also increasing its outreach efforts in India to market itself as a destination for business events and luxury travel. The Azerbaijan Tourism Board recently participated in a MICE and luxury travel event in Jaipur as part of its strategy to attract more Indian tourists. In 2023, over 117,000 Indian tourists visited Azerbaijan, accounting for 5.6% of the country’s visitor share. This figure has already been surpassed in the first half of 2024, with nearly 119,000 Indian tourists visiting Azerbaijan, marking a 250% increase compared to the same period last year.