CheqUPI is a digital payments platform designed to enable non-resident Indians (NRIs) and foreign nationals to make seamless UPI payments across India. CheqUPI offers a modern UPI wallet, allowing international visitors to pay at over 55 million merchants nationwide without the need for an Indian bank account.
The app targets the common challenges faced by tourists and NRIs in India—namely, the inconvenience of dealing with cash, visiting ATMs, and incurring high foreign exchange costs. With CheqUPI, users can pay digitally via UPI at nearly any merchant, minimizing the need for cash withdrawals and simplifying their travel experience.
What technology enables CheqUPI?
CheqUPI leverages India's Unified Payments Interface (UPI), a real-time payment system developed by the National Payments Corporation of India (NPCI). By building a wallet tailored for non-residents and international tourists, CheqUPI bridges the gap between foreign-issued cards or bank accounts and India's digital economy. The company ensures compliance with local regulations while providing a frictionless onboarding process for foreign users.
Who uses CheqUPI?
CheqUPI primarily serves:
- NRIs visiting India who lack a domestic bank account
- International tourists and business travelers
- Expatriates and temporary residents
By making it possible to pay at over 55 million merchants, CheqUPI is especially useful for travelers who want the convenience and ubiquity of UPI payments without navigating India's banking system.
Who are CheqUPI's competitors?
CheqUPI operates in the growing fintech and payments space, especially focused on the intersection of tourism and digital payments in India. Notable competitors and related platforms include:
- NPCI's UPI One World: NPCI's own initiative to enable UPI payments for foreign visitors via a digital wallet, acting as a foundational system in this space.
- Wise: A global money transfer platform that provides guides and solutions for NRIs and tourists to access UPI payments, often partnering with UPI One World.
- MONY: An app offering a UPI wallet experience tailored for tourists in India, with additional features for local experiences.
CheqUPI differentiates itself by focusing on a streamlined user experience for onboarding, extensive merchant acceptance, and dedicated support for international users navigating India's digital payment ecosystem.
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