UPI Payments in Greece: How to Activate, Use & Charges

Now, Indian travellers visiting Greece can make UPI payments seamlessly by scanning QR codes just like you do in your neighbourhood. 

The announcement was made during Union Commerce and Industry Minister Piyush Goyal’s visit to Athens. This launch resulted from a strategic partnership between NPCI International Payments Limited (NIPL), the international branch of the National Payments Corporation of India, and Eurobank.

This makes Greece the 10th country to facilitate UPI transactions internationally, along with Singapore, the UAE, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka, and Cambodia.

Also Read: How to Calculate Your Budget for a Trip Abroad

How to Activate International UPI? 

Enabling UPI international payments is simple, but the steps vary for each payment app. This pictorial guide outlines the steps for the major UPI payment apps in India.

Steps to Activate International UPI on Google Pay

1. Click on your profile picture on the GPay home screen.

2. Tap the arrow near the ‘Set up payment methods 1/3’ section.

3. Under the ‘payment method details’ page, select the ‘Manage international payments’ option.

4. Enable ‘Pay with international payments’ and enter your UPI PIN.

Steps to Activate International UPI on PhonePe

1. Log in to your PhonePe app and click on your profile picture.

2. Within the ‘Payment Management’ section, select the ‘International’ feature.

3. Tap the ‘activate’ button for your preferred bank and enter your UPI PIN.

Steps to Activate International UPI on Paytm 

1. On the GPay home screen, simply tap your profile picture to access your profile.

2. Scroll down and go to ‘UPI and Payment Settings’.

3. Below the UPI settings, select ‘International UPI’.

4. Enable the ‘Activate’ mode for your banking partner and enter your UPI PIN. 

How to Do UPI Payments in Greece

After you enable international payments, you can conveniently make payments with your UPI payment application by following these steps.

1. Scan the QR code given by the merchant or the individual.

2. Input the specified amount in Euros, and the equivalent amount in Indian Rupees will be shown.

3. Select the bank account you wish to use for the payment.

4. Confirm the transaction by inputting your UPI PIN.

5. The payment amount will be withdrawn from your bank account in INR, including any fees that may apply from the bank.

6. The funds will be transferred to the beneficiary’s bank account in Euros.

Pro Tip: Always inform your bank about your international trip so that your international transactions do not get flagged as there is a change in location. Multiple warnings can also lead to bank account freeze, creating a difficult time while in Greece.

Charges for UPI Transactions in Greece

International UPI transactions are similar to domestic payments but come with charges imposed by your bank, as they function like international bank transfers.

These are the charges to anticipate while making international UPI payments:

International transfer fees: These are fees charged by banks to manage the expenses associated with processing and executing transfers across international borders. The fees can differ based on the bank and the amount transacted.

Exchange rate markups: Instead of using the real-time market exchange rate (called the mid-market rate or interbank rate), banks apply a margin to make a profit on the currency exchange. This is usually higher with banks compared to local currency exchange stores.

Therefore, consult with your bank before you travel to Greece to check the applicable charges and choose UPI only if it seems feasible.

International UPI Payment Limit

Foreign currency equivalent to below Rs. 2,00,000 is the per-transaction limit for international UPI payments. This can vary according to your UPI app and bank terms and conditions.

Limitations of Paying in Greece Using UPI

1. Limited Merchant Support

UPI payments in Greece is in their initial phase of launch, and its acceptance in local shops and restaurants is questionable. So travellers cannot depend entirely on it for all their payment needs. 

2. Bank and App Compatibility

Not all Indian banks support UPI international payments. Therefore, you must confirm that your bank and UPI apps are suitable for international usage by checking the apps.  

3. Currency Exchange Rate Variations

Using UPI for transactions abroad requires currency conversion, which may not offer the best rates.

4. Security Concerns on Unsecured Networks

Using UPI abroad requires internet access, which may not always be secure. If travellers make transactions over public or unsecured Wi-Fi networks, they could be vulnerable to hacking and data breaches. 

5. Dependency on Mobile Connectivity

UPI transactions rely on a stable internet connection, which may not always be available when travelling abroad. 

What is the Better Option than UPI International?

While UPI International can be convenient, it’s not always the most cost-effective choice due to hidden fees, exchange rate fluctuations, and limited accessibility. Alternatives like purchasing foreign currency or using a forex card offer better cost control and greater flexibility. Let’s explore these options:

1. Euro Currency

• Buying Euros as cash is particularly useful for small transactions, tipping, or at places where UPI or card payments are not accepted.
  
• By purchasing currency from a trusted source like ExTravelMoney, you book at competitive rates and avoid the uncertainty of fluctuating exchange rates while abroad. 

2. Forex Card

• These travel cards offer better exchange rates.  

• Once you load the forex card in Euros, the exchange rate stays fixed, protecting you from future changes that can be seen in the case of UPI transactions.
  
  
• You can reload the card multiple times if needed and withdraw any leftover Euros after your trip.  

• You can use the card at POS terminals in Greece and withdraw EUR from ATMs in the local currency.  

• Unlike UPI, forex cards do not charge for currency conversion or international use. Only a small fee applies for each ATM withdrawal. You can minimise this fee by reducing the number of withdrawals and taking out a larger amount each time.

UPI has made international payments easier for Indian travellers, but it’s not always the best option for every purchase in Greece. Planning with Euros and a forex card can help you avoid hidden costs and payment hassles. Compare rates, buy foreign currency, and order a forex card online with ExTravelMoney for a smarter and more affordable trip.

Also Read: How to Carry Currency Safely When Travelling Abroad

Article Sources:

1. The Times of India
2. The Economic Times
3. Firstpost
4. NDTV