Cheq UPI: Digital Payments Made Easy for Expats

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Cashless Payment Using Smartphone
Credit: pexels.com, Cashless Payment Using Smartphone

Cheq UPI is a game-changer for expats living in India. With Cheq UPI, you can make digital payments easily and securely.

One of the key benefits of Cheq UPI is that it allows you to link your international debit or credit card to the Cheq app. This means you can make payments in Indian rupees without needing to convert your money.

Expats often struggle with navigating complex payment systems in a foreign country, but Cheq UPI simplifies the process. By linking your international card, you can avoid the hassle of converting your money and dealing with multiple bank accounts.

Cheq UPI is also a convenient option for expats who want to pay bills or make purchases in India. With the Cheq app, you can easily scan a QR code or enter a merchant's UPI ID to make a payment.

If this caught your attention, see: Phonepe Upi Id

Digital Payments for Foreigners in India

As a frequent traveler to India, I've found that digital payments have made it much easier to navigate the country's vast merchant network. Cheq UPI is a great option for foreigners, allowing them to pay digitally at over 55 million merchants across India.

Laptop and smartphone showcasing online shopping and mobile payment setup on desk.
Credit: pexels.com, Laptop and smartphone showcasing online shopping and mobile payment setup on desk.

Purchasing INR through Cheq is much cheaper than exchanging currency at the airport, which is a huge relief for those of us who hate getting ripped off at the airport. This is because Cheq strives to serve users for less.

Cheq UPI also provides a digital UPI wallet that can be used to purchase goods and services across India, making it a convenient alternative to carrying cash or using credit/debit cards with high foreign transaction fees.

Users can add money to their Cheq wallet anytime, anywhere via their international debit/credit card, which is a huge advantage for those of us who like to be in control of our finances. Having Cheq, lets you travel throughout India cashlessly, which is a major plus.

Here are some popular UPI apps and wallets for foreigners in India:

NRIs from several countries can link their international mobile numbers to their NRE or NRO accounts and use UPI for various transactions, including sending money to other UPI users and scanning UPI QR codes to make payments.

Funding and Development

A Person Paying using a Smartphone
Credit: pexels.com, A Person Paying using a Smartphone

Cheq has raised a total funding of $10.8M over 3 rounds.

Its first funding round was on February 15, 2022.

Consider reading: Phonepe Funding

Targeted Groups

Cheq UPI is designed to cater to various targeted groups, each with unique needs and requirements.

Small businesses and entrepreneurs can benefit from Cheq UPI's cost-effective and efficient payment solutions, which help reduce transaction costs and increase operational efficiency.

Merchants can use Cheq UPI to accept payments from customers, including UPI-enabled transactions, QR code payments, and more.

Cheq UPI also supports e-commerce and digital marketplaces, enabling them to provide a seamless payment experience for customers.

The platform is also suitable for gig economy and freelance workers, who can use Cheq UPI to receive payments from clients and manage their finances effectively.

Individuals can use Cheq UPI to make and receive payments, as well as manage their finances and track transactions.

For another approach, see: One - Mobile Banking

Payment Methods and Apps

With Cheq UPI, you can make digital payments in India without any hassle. Cheq provides NRIs and tourists with a digital UPI wallet that can be used to purchase goods and services across 55 million+ merchants across India.

A Close-Up Shot of a Person Scanning a QR Code
Credit: pexels.com, A Close-Up Shot of a Person Scanning a QR Code

You can add money to your Cheq wallet anytime, anywhere via your international debit/credit card. This is a convenient feature that allows you to top up your wallet whenever you need to.

Purchasing INR through Cheq is much cheaper than exchanging currency at the airport. This is because Cheq aims to serve you for less.

Having Cheq also lets you travel throughout India cashlessly. Your bank card details remain safe from ATM fraud and clone attacks, giving you peace of mind.

Cheq UPI is a cost-effective alternative to traditional methods or using credit/debit cards with high foreign transaction fees. Here are some popular UPI apps and wallets for foreigners in India:

  • Cheq UPI: Allows users to pay digitally at over 55 million merchants across India.
  • ICICI Bank iMobile Pay: Allows NRIs to link their international mobile numbers to their Indian bank accounts and use UPI through their iMobile Pay app.

Frequently Asked Questions

How much does Cheq UPI cost?

Cheq UPI charges a fee of approximately 2.95% (2.5% fee plus taxes) on total payments made. This fee is directly billed to the user, with no additional charges for currency conversion.

Wilbur Huels

Senior Writer

Here is a 100-word author bio for Wilbur Huels: Wilbur Huels is a seasoned writer with a keen interest in finance and investing. With a strong background in research and analysis, he brings a unique perspective to his writing, making complex topics accessible to a wide range of readers. His articles have been featured in various publications, covering topics such as investment funds and their role in shaping the global financial landscape.

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