Fampay Launches Namaspay UPI Payment App for Foreign Travellers in India

Namaspay, a payment application powered by the Unified Payment Interface (UPI) and expressly designed for foreign travelers visiting India, was recently introduced by Bengaluru-based fintech startup Fampay.

The new application is designed to capitalize on the increasing popularity of digital payments by targeting travelers from continents including Europe, Africa, Australia, and the United States.

It provides a smooth payment experience in a country where cash transactions have been substantially reduced, particularly in urban areas, attributable to UPI.

Namaspay imposes a one-time registration fee of Rs 1,650. Furthermore, it imposes a 4% fee for depositing funds into the application and a 1% fee for withdrawing funds.

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Although these fees are nominal, they are a strategic decision to maintain profitability while simultaneously providing convenience to foreign visitors.

In August alone, UPI processed 15 billion transactions in India, illustrating the high level of adoption of this payment method. Namaspay capitalizes on this infrastructure, rendering it an appealing alternative for travelers who utilize plastic money or cash.

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