Non-Resident Indians (NRIs) can now use their foreign mobile phones to make UPI payments on the Paytm app thanks to a new functionality introduced by the fintech giant.

Using this upgrade, NRI users who reside overseas can now link their NRE or NRO bank accounts to the Paytm app by logging in using their international number. 

Once connected, customers don’t require an Indian SIM card or go through currency conversion to make regular UPI payments in India, whether they are making purchases online, paying at neighborhood stores, or sending money to friends and family.

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Users from 12 countries, including the US, UK, UAE, Singapore, Australia, Canada, France, and Saudi Arabia, can utilize the function, which is presently in beta and is powered by the National Payments Corporation of India (NPCI).

Additionally, Paytm emphasized that these customers will have access to its app’s capabilities, which include balance management across various bank accounts, spend analysis, and downloadable UPI statements.

This strengthens the company’s attempt to enter foreign markets in order to increase its earnings.  The corporation stated in its FY25 annual report that it anticipates results from its “efforts” to expand internationally within the next three years.

“We are investigating opportunities in specific international geographies for additional long-term growth, anticipating results from these ventures after three years, leveraging our technology-led merchant payments and financial services distribution model,” the statement stated.

It is noteworthy that in November 2024, Paytm launched “UPI International” in a few international countries.  The launch made it possible for Indian customers to pay in nations where UPI is already accepted, such as the United Arab Emirates, Singapore, France, Mauritius, Bhutan, and Nepal.

The Noida-based fintech company’s attempt to refocus on its core payments business following a year of internal reorganization and cost reductions is further strengthened by the international UPI launch.

Paytm strengthened its payments sector earlier this year.  The company had previously expanded into “too many” industries, such as international bets like Australia-based PayPay and verticals like Paytm Insider and short loans.

Following the regulatory crackdown on its payments bank in 2024, the company reduced the scope of its payments vertical by either closing its offerings or selling off other businesses.  It also made extensive use of AI to reduce expenses.

The company reported a net profit of INR 122.5 Cr in the first quarter of FY26, compared to a loss of INR 840 Cr in the same period the previous year, thanks to the approach.  During the reviewed quarter, its top line shot up 28% YoY to INR 1,918 Cr.  More than half of its operating revenue came from its payments division.

In order to streamline operations, cut down on duplication, and enhance regulatory compliance among its several business verticals, Paytm has also been trying to simplify its organizational structure.

The board of Paytm authorized investments of INR 455 Cr in several subsidiaries in August, including INR 155 Cr in Paytm Services Pvt Ltd (PSPL), which manages personnel and operational support, and INR 300 Cr in Paytm Money, the company’s investment and wealth management division.

In response to the government’s prohibition on RMG platforms, it concurrently shut down First Games’ real money gambling operations.

Paytm’s shares concluded today’s trading session at INR 1306.2 on the BSE, up 1.53%.