RBI, ECB Move Ahead To Link UPI With Europe’s TIPS For Faster Cross-Border Payments

Last Updated:November 22, 2025, 09:22 IST

Reserve Bank of India and NPCI are collaborating with European Central Bank to link UPI with TIPS, aiming to enable seamless cross-border payments.

The Reserve Bank of India is actively working to interlink the digital payment system Unified Payments Interface (UPI) with fast payment systems of other countries for cross-border payments. According to a statement of RBI, the regulator and NPCI International Payments Limited (NIPL) are in talks with European Central Bank to connect UPI with the TARGET Instant Payment Settlement (TIPS), the instant payment system operated by the Eurosystem, in a calibrated manner.

“Following constructive and sustained engagement, both sides have agreed to start the realisation phase for the UPI–TIPS link,” RBI said in the statement.

The proposed UPI–TIPS interlinkage will help cross-border remittances between India and the Euro Area.

The parties from both side will work together to figure out technical aspects, risk management and settlement arrangement to make interlinkage of fast-payment system a possibility. “Reserve Bank of India and NIPL will continue to collaborate closely with European Central Bank to operationalize the UPI–TIPS link, including technical integration, risk management and settlement arrangements,” RBI added in the statement.

UPI Global Acceptance

NPCI has launched UPI Global Acceptance (International Merchant Payments), a feature that enables users to make QR code-based payments at select international merchant locations directly from their Indian bank accounts via UPI-powered applications.

How to Use UPI Global/UPI International at International Merchant Locations:

Prerequisites:

Activate UPI Global/UPI International: Activate the UPI Global/UPI International service for your specified bank account through UPI-powered application.

Payment Process:

Identify acceptance logo: Look for BHIM UPI or network partner acceptance QR standee/sticker and ask whether merchant accepts UPI-based payments.

Scan the QR code: Scan the QR code with your UPI-powered application and make the payment.

Review payment details: Verify your payment details, including the final amount in both foreign and Indian currency as well as applicable exchange rates or fees.

Enter PIN and authorize: Enter your UPI PIN to authorize the payment. Both you and the merchant should get a payment notification upon a successful transaction.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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