The National Payments Corporation of India (NPCI) partnered with HSBC India and JP Morgan Payments to enable real-time foreign exchange (FX) settlement for international UPI transactions. This removes a key friction point in cross-border UPI payments — the delay in FX conversion and settlement. Currently, UPI is live in 8+ countries. The partnership will make cross-border UPI transactions as seamless as domestic ones, supporting India's vision of UPI as a global payment standard. NPCI's Dilip Asbe recently joined SWIFT's Global Supervisory Board (July 8, 2026).
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NPCI Partners with HSBC India and JP Morgan for Real-Time FX Settlement for International UPI Payments
Key Points
- The National Payments Corporation of India (NPCI) partnered with HSBC India and JP Morgan Payments to enable real-time foreign exchange (FX) settlement for international UPI transactions
- This removes a key friction point in cross-border UPI payments — the delay in FX conversion and settlement
- Currently, UPI is live in 8+ countries
- The partnership will make cross-border UPI transactions as seamless as domestic ones, supporting India's vision of UPI as a global payment standard
- NPCI's Dilip Asbe recently joined SWIFT's Global Supervisory Board (July 8, 2026)
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• NPCI + HSBC India + JP Morgan: real-time FX settlement for international UPI (July 2026) • Removes FX conversion delay in cross-border UPI; UPI live in 8+ countries • NPCI CEO: Dilip Asbe (also on SWIFT Global Supervisory Board from Jul 8, 2026) • UPI FY26: 24,162 crore transactions (global record); NPCI: National Payments Corporation of India
