Sending Money Abroad Via India Post? New UPI–UPU Integration To Make It Faster: Here's How

A new initiative by India Post is expected to facilitate international money transfers for millions of users through UPI transactions. With the launch of the UPI–UPU Integration project in Dubai on Monday, cross-border remittances could be facilitated faster at a cheaper price.

India Post, along with NPCI International Payments Ltd (NIPL) and the Universal Postal Union (UPU), has developed a framework to facilitate international transactions. The initiative was launched by Union Minister for Communication Jyotiraditya Scindia at the 28th Universal Postal Congress in Dubai on Sept. 9.

The payments system connects India’s Unified Payments Interface (UPI) with the Universal Postal Union’s (UPU) Interconnection Platform. The integration of UPI with the global postal network can enable millions of Indians to send and receive money across multiple countries through post offices.

The initiative is aimed at expanding financial inclusion, especially for Indian workers abroad with limited access to banks. As the UPU network spans over 190 countries, the new initiative can facilitate international transfers for Indian workers faster. Users in India can also receive money from foreign countries at lower deductions and remittance fees.

The UPI-UPU integration will also help businesses, traders and sellers who depend on overseas transactions through e-commerce platforms.

Apart from the new initiative, India Post has been offering international money transfer services across the country through post offices and through MoneyGram. India Post has also partnered with Western Union to facilitate international transactions.

All you need to do is visit a post office, fill in the recipient's details, pay the amount along with applicable fees, and receive a receipt with a tracking number. 

Recipients can collect the money at designated post offices in their country using a valid ID and the reference number.  

If you have an India Post Payments Bank (IPPB) account, getting money from overseas is simple because the funds can go directly into your savings or current account without the need to visit a post office. 

To receive money directly in your IPPB account, share your account details with the sender. The sender can then initiate the transfer through their bank or an online service. Once the transaction is completed, the funds are credited directly to your IPPB account.