UPI Is Going Global — Again

Hey Payments Fanatic!

UPI is getting ready for another expansion push.

India's National Payments Corporation of India is in talks with Japan, Malaysia and Bahrain to bring UPI-based cross-border payments to more markets, particularly for India's huge overseas diaspora. UPI already operates in nine countries, including Singapore, France and the UAE.

The bigger story is that India isn't treating UPI as just a domestic payment rail anymore. With more than $155 billion in remittances sent back to India by its diaspora last year, expanding UPI abroad could turn it into a much bigger part of the global payments infrastructure. And NPCI is already looking beyond traditional payments, exploring how transactions could work directly through AI assistants such as ChatGPT and Gemini.

You'll also find the numbers behind SoFi's record Q2, with $1.21 billion in adjusted net revenue, 15.8 million members, and $14.8 billion in loan originations.

Now, let's dive into today's biggest Payments stories. 👇 See you tomorrow!

Cheers,

Marcel

INSIGHTS

📊 SoFi Q2 2026

Here is a comparison of 𝗞𝗲𝘆 𝗦𝘁𝗮𝘁𝘀 👇️

NEWS

🇺🇸 Synchrony and PayPal bring special financing to the entire Mastercard network. PayPal Credit Card holders now get six months of special financing on purchases of $149 or more at millions of merchants accepting Mastercard.

🇮🇳 India's NPCI eyes UPI expansion in Japan, Malaysia, and Bahrain. The National Payments Corporation of India is targeting three new markets for its real-time payment system as it continues building out UPI's cross-border reach. Read more

🇪🇹 M-Pesa expands cardless ATM access through Bank of Abyssinia in Ethiopia. Customers can now initiate withdrawals via the M-Pesa app and collect cash at participating ATMs without needing a physical bank card.

🇧🇩 Banglalink gets Bangladesh Bank licence to launch digital payment service Mukto Pay. The telecom operator will offer money transfers, merchant payments, and bill payments, targeting unbanked and underserved users.

🇮🇳 Indian FinTech firm Skydo tops $1B in annualized payment volume. The cross-border payments startup reached the milestone while scaling services for Indian exporters and freelancers receiving international payments. Read more

🇵🇭 Visa and UMSI launch U Accept, allowing Philippine MSMEs to accept contactless card payments via NFC-enabled smartphones. The solution is integrated into UMSI's uGrow app, eliminating the need for traditional POS terminals.

🇮🇳 RBI to provide a Digital Payment Intelligence Platform to banks for tackling fraud. Governor Malhotra said AI and machine learning models will help identify fraud while human oversight remains essential for bank decisions.

🇭🇰 Thredd powers Cashi's global stablecoin spending card, now live in Hong Kong with virtual Visa cards and Google Pay support. The programme plans to expand into Mexico with physical cards and Apple Pay by late 2026.

🇸🇬 ShopBack and Visa expand tie-up to 20,000 Singapore physical stores. Consumers now earn rewards using ShopBack Pay with Visa at in-store checkouts, spanning F&B, travel, and marketplaces. Continue reading

🇪🇺 Worldline outlines how banks can simplify European digital identity wallet adoption. Under eIDAS 2.0, banks must accept certified EU wallets for KYC and authentication use cases by the end of 2027.

🇧🇷 PicPay nomeia André Cazotto como novo CFO, replacing Rodrigo Couto. Cazotto previously led investor relations, M&A, and strategy at the FinTech and helped execute its IPO on the Nasdaq.

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