India and South Korea have signed a Memorandum of Understanding (MoU) to link their electronic payment systems, enabling citizens of both countries to use their domestic QR-based payment methods while travelling.<\/p>\n
The integration, announced by South Korean President Lee Jae Myung during a joint statement with Prime Minister Narendra Modi, is aimed at making cross-border travel and payments more seamless by connecting India\u2019s Unified Payments Interface (UPI) with South Korea\u2019s local payment infrastructure.<\/p>\n
\nUnder the arrangement, Indian travellers visiting South Korea will be able to make payments using UPI-based QR codes at participating merchants, while South Korean visitors in India will be able to use their own domestic QR payment systems for transactions.
The linkage is expected to reduce reliance on cash, currency exchange, and international card usage, offering a more familiar payment experience for users on both sides.
\nAccording to Kanishk Agarwal, Chief Technology Officer at Judge Group India, the rollout reflects a broader shift towards interoperable digital payment systems. He noted that nearly 2 lakh Indian travellers visited South Korea in 2025, marking a 13% year-on-year increase, adding that the need for seamless payment options has grown alongside rising travel flows.<\/p>\n
He said UPI\u2019s QR-based system reduces dependence on currency exchange and international card usage, supporting faster transactions for users abroad.<\/p>\n
Ravi Gosain, president of the Indian Association of Tour Operators (IATO), said the integration could improve payment convenience for outbound travellers and reduce friction linked to foreign currency conversions.<\/p>\n
He added that such systems may contribute to a more connected travel payment ecosystem over time.<\/p>\n
Rohit Mahajan, Founder and CEO of plutos ONE, said the development signals growing global recognition of India\u2019s digital payments infrastructure.<\/p>\n
He noted that enabling UPI in South Korea could enhance convenience for Indian travellers by reducing reliance on forex and international cards, while supporting broader interoperability in cross-border payments.<\/p>\n<\/div>\n
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