India's UPI to link with Zelle to simplify US remittances
Business
India's UPI will soon connect with Zelle, the payment app in the US.
This move is set to simplify money transfers for NRIs and Indian professionals working stateside.
Bank of America is testing things out with Zelle's operator, Early Warning Services, and the launch is expected by the end of 2026.
US sent $37 billion to India
The US sends more money to India than any other country: $37 billion in 2024-25. The UPI-Zelle link aims to make these transfers faster and safer.
Daniel Stanton from Bank of America said India's digital payments system and its role in global trade helped drive this decision.
Plus, India will be the first country ever to connect with Zelle for international payments, a pretty big deal for anyone who moves money across borders!