UPI in US? Zelle bridge could ease payments for NRIs
What's the story
Bank of America (BofA) is working on a pilot project to connect Zelle, a US-based digital payment platform, with India's Unified Payments Interface (UPI). The Indian Embassy in the US shared the news on September 9. It shared a screenshot of a Business Standard report published on September 8. The project is being developed with Early Warning Services, the network operator of Zelle.
Remittance relief
Bridge expected to ease remittance process
The Zelle-UPI bridge is expected to be a game-changer for Indian-Americans and Indian professionals in the US who regularly send money to their families and friends back home.
The US is now the top source country for remittances sent to India. In 2024-25, India received $135.46 billion in remittances, with around $37 billion coming from the US alone, according to reports.
Enhanced accessibility
India is 1 of the most compelling markets for transformation
The Zelle-UPI bridge would provide an "alternative to retail and small business customers looking to move money internationally. It would do so while retaining the embedded experience of Zelle and the security inherent in an alias-based offering."
Daniel Stanton, global head of transactional FX, cross-border real-time payment (RTP) at Bank of America, said India was one of the most compelling markets for this transformation due to its strong digital infrastructure and growing role in global trade.
International reach
Global expansion of UPI
The Ministry of Electronics and IT recently announced the global expansion of UPI, which is now available in 11 countries.
The Zelle-UPI pilot project is a key focus area for remittances.
If successful, it could provide an additional way for customers to send money internationally without leaving their existing digital banking environment.