Prime Minister Narendra Modi has made an important announcement during his visit to Malaysia. Addressing the Indian community in Kuala Lumpur, he said that India’s Unified Payments Interface (UPI) system will now enter the Malaysian market. This step has been taken to ease digital transactions between the two countries. PM Modi said that this facility will start very soon.
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How will this payment system work?
India’s UPI system is going to be connected with Malaysia’s PayNet network. Its advantage will be that Indian tourists and people living there will be able to use their existing mobile apps. This entire process has been made quite simple so that common people do not face any problem.
Users will be able to make payments through apps like BHIM, PhonePe or Google Pay. Money can be sent by scanning the ‘DuitNow’ QR code installed at shops in Malaysia. For this there will be no need to download any new app or separate registration.
Will there be any fee for payment?
According to the Budget 2026 of the Government of India, there is no service charge for users on UPI transactions. The government has made provision for subsidies to promote digital payments. However, when you send money from one country to another, there are currency exchange charges.
This means banks may charge a small foreign exchange (FX) markup when converting rupees into Malaysian ringgit (RM). But no separate fee will have to be paid for the sending process.
What other announcements were made for Indians?
Apart from the payment system, PM Modi has also announced some other facilities for the Indian community. These decisions will directly benefit the migrants living there:
OCI Card: People of Indian origin living in Malaysia will now be able to get OCI card till the sixth generation.
New Consulate: A new Consulate of India will be opened in Malaysia to help the people.
Scholarship: ‘Thiruvalluvar Scholarship’ has been launched for Malaysian students to study in India.
