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Business
UPI Remittances to Canada Made Faster and Cheaper for Indian Families
✍️ Amar Ujala · Jalandhar
🗓 02 Sep 2026, 10:36 AM
👁 3
A new UPI-based service will enable Indians in Canada to send money to India more quickly and at lower cost, strengthening cross‑border ties.
The payment ecosystem in Canada is set to integrate India's Unified Payments Interface (UPI) for cross‑border transfers. Under the new arrangement, Indian expatriates will be able to move funds to relatives in India with reduced processing time and lower transaction fees, according to officials familiar with the rollout.
The initiative responds to the long‑standing economic link between the Punjabi diaspora in Canada and their home state, where remittances form a vital source of household income. By leveraging UPI's real‑time settlement capabilities, the service aims to cut the typical delay of a few days to near‑instant delivery.
Industry observers note that the move could boost the volume of remittances, as cheaper and faster transfers make formal channels more attractive than informal methods. The launch is expected to commence later this year, pending regulatory clearances in both countries.
The Indian government has welcomed the development, highlighting its potential to deepen financial inclusion for overseas Indians and to reinforce the robust trade and people‑to‑people ties between the two nations.
The initiative responds to the long‑standing economic link between the Punjabi diaspora in Canada and their home state, where remittances form a vital source of household income. By leveraging UPI's real‑time settlement capabilities, the service aims to cut the typical delay of a few days to near‑instant delivery.
Industry observers note that the move could boost the volume of remittances, as cheaper and faster transfers make formal channels more attractive than informal methods. The launch is expected to commence later this year, pending regulatory clearances in both countries.
The Indian government has welcomed the development, highlighting its potential to deepen financial inclusion for overseas Indians and to reinforce the robust trade and people‑to‑people ties between the two nations.