Unlike its card-and-NFC-centric versions in other countries, Google Pay in India is a UPI app that runs on NPCI's real-time payment rail, UPI. For Korean merchants preparing to accept payments from Indian customers, we've outlined the payment flow and settlement structure for Google Pay (UPI) integration.
At the center of India's payments market is UPI, operated by NPCI under RBI oversight, and Google Pay is one of the leading apps that, together with PhonePe, processes a significant share of UPI transactions. Rather than a card-based NFC wallet as in other countries, it connects directly to the user's bank account for real-time transfers, and the practical significance of accepting Google Pay is that it lets you tap naturally into a UPI transaction ecosystem processing over 10 billion transactions a month.
In an Indian smartphone market dominated by Android, Google Pay is a low-barrier payment method. For businesses selling digital products or services to Indian consumers through mobile apps or the web—particularly D2C shops looking to reduce checkout drop-off—accepting Google Pay, a widely recognized UPI app, is worth prioritizing.
When a consumer selects Google Pay at checkout, a UPI payment request is sent to the consumer's app, and as soon as it's approved with a UPI PIN, INR is withdrawn from the bank account in real time. Hecto Financial receives these funds in the local currency, converts them, and settles to the Korean merchant in whichever currency—USD, KRW, or JPY—was selected under contract. Please check the technical documentation for details on integration methods such as app intents, QR codes, and collect requests.
With Hecto Financial integration, a Korean corporate entity can review Google Pay (UPI) acceptance without a local contract in India. Since Google Pay in India follows the UPI specification, actual support conditions are provided together with UPI acceptance terms, and detailed conditions by industry and transaction volume should be confirmed with the sales team.
※ This section describes the general support process and does not guarantee actual integration eligibility for a specific merchant. Please confirm exact coverage and fees through consultation.
Confirm contract eligibility as a Korea-registered business
The integration approach differs depending on whether you sell online only or also operate offline stores in India
Advance confirmation is needed to check whether your category falls under Google Pay's restricted merchant categories
Confirm compliance with India's payment and foreign exchange regulations (see official sources below)
The currency generated at the time of payment is INR. Hecto Financial receives these funds locally in India, converts them, and pays the Korean merchant in whichever one of USD, KRW, or JPY was selected at contract signing. The settlement cycle and fee rate follow the contract terms, and refunds on UPI-based transactions are returned to the consumer's original bank account, which is a different process from card refunds—so please confirm processing timelines in advance.
The Hecto Financial team will work with you to review the right combination of payment methods for the Indian market.
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