Peanut Is Coming to India
Pay with UPI, send money to family, and skip the Aadhaar requirement — no fees, real market rate.
India is the world's largest remittance market. Approximately $125 billion flows into the country every year from workers in the United States, the United Arab Emirates, the United Kingdom, and beyond. Families on the receiving end lose billions annually to transfer fees and unfavorable exchange rates — money that should go toward education, groceries, rent, and daily life.
Meanwhile, the Unified Payments Interface has transformed how India pays. UPI processes roughly 17 billion transactions per month, making it the world's largest real-time payment system. QR codes are accepted at virtually every merchant — from roadside tea stalls to shopping malls. But UPI requires an Indian bank account linked to an Indian mobile number, leaving foreigners and overseas Indians without direct access to the country's dominant payment system.
Peanut will change that. When local spending launches in India, you will be able to pay through UPI and send money to anyone in the country — without needing an Aadhaar number, an Indian bank account, or a local phone number. Your digital dollar balance will convert to Indian rupees at the real market rate.
How It Will Work
- 1
Deposit funds
Add money to your Peanut balance from your bank via SEPA, ACH, or wire transfer — or send digital dollars from any major exchange. All deposits are free.
- 2
Your balance stays in digital dollars
Your funds will be held in digital dollars until you are ready to spend or send. No exposure to rupee fluctuations while your money sits in your account.
- 3
Pay with UPI
When Peanut launches local spending in India, you will scan UPI QR codes at merchants across the country. Your digital dollars will convert to rupees at the moment of payment.
- 4
Send money to anyone
Share a Peanut Link with anyone in India. They will claim the funds and withdraw to their bank account or UPI-linked wallet — no Peanut account required on their end.
What Payment Methods Are Coming
UPI
The Unified Payments Interface is India's national real-time payment system, operated by the National Payments Corporation of India (NPCI). With approximately 17 billion transactions per month and over 350 million active users, UPI is the backbone of digital payments in India — handling an estimated 84% of all digital payment volume. UPI QR codes are everywhere: grocery stores, restaurants, auto-rickshaws, street vendors, online retailers, and utility bill payments.
UPI works through linked bank accounts and uses phone numbers or Virtual Payment Addresses (VPAs) as identifiers. Popular UPI apps include Google Pay, PhonePe, Paytm, and BHIM. The system operates 24/7/365 with near-instant settlement.
When Peanut integrates UPI, you will be able to scan QR codes at merchants nationwide — from local shops to major chains. The merchant will see a normal UPI payment. No Aadhaar required, no Indian bank account needed, no local phone number on your end.
Info
What to Expect
The Indian rupee operates under a managed float regime controlled by the Reserve Bank of India. The RBI actively intervenes to limit volatility, making INR/USD relatively predictable but with gradual depreciation over time. Credit cards from abroad incur foreign transaction fees of 1-3% plus the card network's exchange rate markup.
Peanut will convert your digital dollars to Indian rupees at the real market rate. The rate locks at the moment of payment — what you see is what you pay. No hidden markups, no foreign transaction fees.
For the remittance corridor, the savings are significant. Traditional channels to India charge 2-5% in combined fees and exchange rate markups. On $125 billion in annual remittances, that represents billions lost to intermediaries every year. Peanut will deliver funds instantly at a better rate, with no fees on either end.
Who Will Use Peanut in India
Workers Abroad Sending Money Home
If you work in the United States, the UAE, or the United Kingdom and send money home to India, Peanut is being built for you. Traditional remittance services charge 2-5% in fees and the money can take days to arrive. With Peanut, you will send dollars and your family will receive rupees instantly — via UPI or a direct bank withdrawal. No fees on either end, real market rate, no waiting.
Families Receiving Remittances
On the receiving end, Peanut makes claiming money simple. Your family member abroad sends you a Peanut Link. You tap it, claim the funds, and withdraw to your bank account or UPI wallet. The money arrives in rupees, instantly, at a better rate than what traditional services offer.
Tourists and Business Travelers
India attracts millions of visitors every year for business, tourism, and spiritual travel. But paying with a foreign card means markups on every transaction, and accessing UPI requires an Indian bank account and phone number. Peanut will let you scan QR codes at merchants across the country — pay in rupees at the real rate, from the day you arrive. No Aadhaar, no Indian bank account.
Get Notified
Peanut is not yet live for local spending in India, but you can already deposit and withdraw digital dollars today. When UPI integration launches, you will be among the first to pay like a local.
Sign up now to get notified when Peanut launches local spending in India. Verification takes under two minutes with your passport or national ID — no Aadhaar required.
