CheqUPI: India's first UPI wallet for foreign nationals and NRIs | Y Combinator (2024)

CheqUPI: India's first UPI wallet for foreign nationals and NRIs | Y Combinator (1)

India's first UPI wallet for foreign nationals and NRIs

India's first UPI wallet for foreign nationals and NRIs

Cheq is a modern UPI payments app for NRIs and international citizens visiting India. Using Cheq, you can pay digitally at over 55mn+ merchants across India. We help tourists avoid ATMs and minimize their foreign exchange costs while in India.

CheqUPI: India's first UPI wallet for foreign nationals and NRIs | Y Combinator (2)

CheqUPI

Founded:2021

Team Size:15

Location:Bengaluru, India

Group Partner:Harj Taggar

Active Founders

Sudhanshu Shekhar

Building Cheq UPI - A better payments app for foreign nationals and NRIs visiting India.Previous work experience: Ispirt, Zeta, Headout, Walmart

CheqUPI: India's first UPI wallet for foreign nationals and NRIs | Y Combinator (3)

Sudhanshu Shekhar

CheqUPI

Manish Shukla

Building Cheq UPI to enhance the digital payment experience of foreign nationals and NRIsPrevious experience: Zeta, Ispirt

CheqUPI: India's first UPI wallet for foreign nationals and NRIs | Y Combinator (4)

Manish Shukla

CheqUPI

Company Launches

Hi everyone!

Cheq is a UPI payment wallet for Non-Resident Indians (NRIs) and foreign citizens visiting India.

Using Cheq, you can purchase almost any goods/services across India 🇮🇳.
Just scan the merchant QR code / choose the pay by UPI id option to make the purchase. We accept all international debit/credit cards and support international phone numbers.

Foreigners Struggle to make payments in India

Most foreigners visiting India will invariably face one of the below problems👇

  1. Indian merchant not accepting your international credit card
  2. Indian merchants not tendering exact loose change (you’ll collect lots of candies!)
  3. Unavailability of ATMs/money changers at remote locations

Indian Expats struggle to make payments in India

  1. Enabling UPI on an international number doesn’t work.
  2. Linking NRE/NRO accounts to UPI does not work
  3. NRE/NRO accounts are linked to the customer’s (often deactivated) Indian phone number.

More than 10mn+ international citizens visiting India each year regularly face issues in making payments!

Cheq UPI lets foreigners pay digitally in India 🇮🇳

CheqUPI: India's first UPI wallet for foreign nationals and NRIs | Y Combinator (5)

  1. Cheq provides NRIs/Tourists with a digital UPI wallet that can be used to purchase goods/services across 55mn+ merchants across India
  2. Users can add money to their Cheq wallet anytime, anywhere via their international debit/credit card 💳
  3. Purchasing INR through Cheq is much cheaper than exchanging currency at the airport. We strive to serve you for less.
  4. Having Cheq, lets you travel throughout India cashlessly. Your bank card details remain safe from ATM fraud and clone attacks.

People from 16 different nationalities are already using Cheq UPI

Meet our customers

Renatha, from Brazil, goes cashless in India

Leo loves Cheq UPI

Note: Cheq accounts can only be activated after the customer finishes in-person passport verification in India. We provide at-home verification facilities in more than 22 cities across India.

Pricing

We charge a one-time joining fee of Rs 800 (10$) to every customer. This covers the cost of verifying your profile and running our business.

Meet the team

We are @Manish Shukla and @Sudhanshu Shekhar, the co-founders of @CheqUPI. Both of us are passionate about finance and technology and we’ve known each other for 12 years now.

Having lived the life of an expat abroad, we’re empathetic to the problems being faced by them in the Indian market. Our goal with Cheq is to make life a little easier for every traveler visiting India.

CheqUPI: India's first UPI wallet for foreign nationals and NRIs | Y Combinator (6)

Can you help us grow? 🙏

  1. We just launched today on Product Hunt! If you actively use PH, please drop us an upvote 🙂
    https://www.producthunt.com/posts/cheq-upi
  2. If you know any companies/startups frequently sending travelers to India, please put me in touch with their founders/representatives. We’ll provide them with the best fintech experience in India ✨
    ( reach me at sudhanshu@cheq.money )
  3. If you’re traveling to India, Download our app

If you have any questions/feedback on the services offered by Cheq, please don’t hesitate to reach out!

Thank you

Connect with us👇

  1. Cheq:
    1. Product link: https://link-to.app/CheqBFF
    2. Website: https://www.cheq.money
  2. Founders
    1. Sudhanshu - https://www.linkedin.com/in/sudshekhar02/
    2. Manish - https://www.linkedin.com/in/mkshukla/
CheqUPI: India's first UPI wallet for foreign nationals and NRIs | Y Combinator (2024)

FAQs

Can foreign nationals use UPI in India? ›

Can NRIs use UPI for transactions in India using their overseas mobile number? Yes, NRIs can use UPI from their registered overseas mobile number from the approved geographies, i.e. Australia, Canada, Hong Kong, Oman, Qatar, Saudi Arabia, Singapore, UAE, UK, and USA for INR transactions in India.

Who is the founder of Chequpi? ›

The founders of Cheq are Sudhanshu Shekhar and Manish Shukla.

Which UPI came first in India? ›

Abstract: The Unified Payment Interface (UPI) has revolutionized the way people make digital payments in India. UPI was launched by the National Payments Corporation of India (NPCI) in 2016 and has since become the most widely used digital payment system in India.

Can foreigners use a digital wallet in India? ›

International travellers can use the UPI One World app to make payments at merchant locations by simply scanning the QR codes. In accordance with foreign exchange regulations, any unused balance can be transferred back to the original payment source.

Which UPI is best for foreigners in India? ›

For travelers visiting India, UPI ONE WORLD is the ultimate solution for hassle-free and secure digital payments. You can transact seamlessly with merchants & vendors across India that accept UPI Payments.

How can NRIs use UPI in India? ›

NRIs can set up a UPI/ VPA ID using their ICICI Bank registered Indian mobile number or overseas mobile number from the approved geographies, i.e. Australia, Canada, France, Hong Kong, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, UAE, UK and USA.

Who is the owner of Skippi? ›

A refreshing snack for all age groups! Our ice pops are made from 100% natural ingredients, purees and sweet juices. Our co-founders Ravi and Anuja Kabra have over 12 years of experience in the F&B space.

Who are the founders of tickr? ›

Abdulaziz Saud Alibrahim - Founder - Tickr | LinkedIn.

Who is the founder of Suarez Brothers? ›

Enter Felimon M. Suarez, founder of Suarez Brothers. He Paved the road for the metal arts industry in the Philippines by bringing in technology and techniques from America and Europe. Felimon united with his brother, Apolinar M.

Which foreign country adopted Indian UPI first? ›

Nepal. Nepal became the first foreign country to deploy UPI as a payment platform. NIPL partnered Gateway Payments Service (GPS), an authorised payment system operator in Nepal, and Bengaluru-based Manam Infotech.

Who is the father of UPI in India? ›

The National Payments Corporation of India (NPCI), which was founded by the Reserve Bank of India (RBI) and the Indian Banks Association, developed the Unified Payment Interface (UPI).

Why is UPI not in the USA? ›

Instant payments haven't taken off in the US yet. That's in part because the US economy is card-based. Banks make a lot of money on interchange fees and late payments, which means it's difficult to sacrifice profitable credit and debit cards for free instant payments.

What is the alternative to Cheq UPI? ›

The best alternatives to Cheq UPI are Stripe, Wise, and Paypal.Me. If these 3 options don't work for you, we've listed a few more alternatives below. What do you think of Cheq UPI?

Can US citizens use Paytm in India? ›

Paytm is a popular digital wallet and payment app in India, but it is not currently possible to use the Paytm app internationally. So if you're a Paytm account holder looking to make international transfers, you will need to look at alternatives such as Wise.

Can foreigners use GPay in India? ›

Yes, foreigners can use Google Pay in India, provided they meet specific requirements. Google Pay, also known as GPay, is available to both Indian residents and foreigners who have a valid Indian bank account and a registered Indian mobile number.

Can a foreigner use Google Pay in India? ›

Yes, foreigners can use Google Pay in India, provided they meet specific requirements. Google Pay, also known as GPay, is available to both Indian residents and foreigners who have a valid Indian bank account and a registered Indian mobile number.

Is UPI facility available to foreign tourists coming to India? ›

S–1907/02.14. 006/2022-23 dated 10.02. 2023, allowed access to Unified Payments Interface (UPI) to foreign nationals and NRIs visiting India by enabling them to make payments using UPI while they are in India. RBI has updated its Master Directions on Prepaid Payment Instruments (PPIs) accordingly.

Can NRIs use Google Pay in India? ›

Yes, as per a circular issued by the National Payments Corporation in India (NPCI) on 10th January 2023, NRIs having NRE/NRO bank accounts in Indian banks can utilize UPI payment apps to send and receive money in India.

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