This looks like it could be very helpful. One question, how is it different than what was announced by the Reserve Bank of India earlier this year? [1]
RBI (India's central bank) doesn't implement the actual user facing stuff. If you read the article, it's two banks and two non-banks. One of those is Transcorp. Cheq UPI seems to be using Transcorp's backend.
Behind the scenes story below :
Until last year, there was no way for Indian fintechs to provide UPI services to international citizens.
The Reserve Bank of India (RBI) decided in January 2023 to issue UPI enabled wallets to international citizens visiting India during G20.
We got a call late at night asking if our team can quickly deliver this solution.
Our team stepped up and the first version was delivered within 30 days.
This app was used to showcase UPI to various the G20 delegates who visited Bangalore in February.
We've spent another 5 months tweaking things and finally, we feel ready to launch the app in front of you :)