Global: JP Morgan Payments, NPCI partner to enable real-time FX for cross-border UPI transactions

National Payments Corporation of India has partnered with JP Morgan Payments to enable real-time foreign exchange conversion and settlement for cross-border transactions processed through India’s Unified Payments Interface (UPI).

The collaboration is designed to strengthen cross-border payment efficiency by integrating JP Morgan Payments’ foreign exchange infrastructure and API capabilities with NPCI’s UPI network, enabling seamless end-to-end currency conversion and real-time settlement.

According to both organisations, the integration will allow businesses and consumers to send and receive cross-border payments more efficiently, with greater speed, transparency, and improved visibility across multiple currencies and payment corridors.

The initiative is expected to reduce friction traditionally associated with international payments, including delays in settlement, opaque exchange rate pricing, and operational complexity in multi-currency transactions.

As UPI continues its international expansion, the partnership is positioned to support growing global payment flows across markets where the platform is already active, including Singapore, United Arab Emirates, Nepal, Bhutan, Mauritius, France, Sri Lanka, Cambodia, and Qatar.

The partnership is also expected to scale further as UPI expands into additional global markets, strengthening its role in facilitating faster and more accessible international payments.

Speaking on the collaboration, Guhaprasath Rajagopal, Head of India Payments at JP Morgan Payments, said the partnership reflects a shared commitment to improving cross-border payment experiences.

“This collaboration reduces friction in cross-border payments and connects clients to UPI’s expanding reach while leveraging our real-time FX capabilities and API-driven integration,” Rajagopal said.

He added that the partnership will help clients deliver better customer experiences by offering greater transparency, scalability, and control across currencies and payment corridors.

The collaboration underscores the growing importance of interoperable payment infrastructure as global demand rises for faster, more cost-efficient, and transparent cross-border payment solutions.