New Delhi, Aug 17 (IANS) Indian residents and customers in Qatar can now send money directly to UPI-enabled bank accounts in India through Qatar Post outlets, following the launch of a new Qatar-India remittance service powered by UPI, it was announced on Monday.
The service, which became operational on August 15, has been developed through a collaboration between Qatar Post, India Post, the Universal Postal Union’s Interconnection Platform (UPU-IP) and NPCI International Payments Limited (NIPL).
The launch coincided with India’s Independence Day. Sandeep Kumar, Charge d’Affaires at the Embassy of India in Qatar, visited the Qatar Post outlet at LuLu Mall in Doha and interacted with stakeholders involved in the initiative.
The new service combines the accessibility of Qatar’s postal network with India’s digital payments infrastructure, providing a convenient channel for cross-border remittances to India, the Ministry of Finance said.
Customers can initiate a transaction at any participating Qatar Post outlet by providing the recipient’s UPI ID in India along with the required identification details. The beneficiary must first activate the facility to receive foreign inward remittances through the UPI application being used.
Once the facility is activated and the transaction is completed, the remitted amount is credited instantly to the beneficiary’s UPI-enabled bank account.
Transactions can be initiated for amounts ranging from QAR 10 to QAR 4,000, subject to a maximum equivalent of Rs 1 lakh per transaction. A flat service charge of QAR 15 is applicable for each transaction.
The service is expected to benefit the large Indian community in Qatar by providing an accessible and trusted mechanism to send money to families and other beneficiaries in India. The initiative also seeks to improve financial inclusion by bringing together postal networks and digital payment infrastructure.
The Qatar-India corridor marks another step towards modernising international postal financial services and expanding digital financial cooperation between the two countries. The integration of UPU-IP with India’s UPI ecosystem demonstrates how postal networks can be combined with digital public infrastructure to facilitate interoperable and efficient cross-border financial services.
PosTransfer powered by UPI is an international inward remittance service that connects the UPU’s Interconnection Platform with India’s UPI ecosystem. Through the system, participating postal operators can offer customers a secure mechanism to send remittances directly to UPI-enabled bank accounts in India.
--IANS
pk
