PhonePe Announces UPI Services in UAE for Travelling Indian Users: Know All Details

Apr1,2024


PhonePe on March 28 launched its Unified Payment Interface (UPI) services in the United Arab Emirates (UAE) for Indian travelers as well as NRIs resident in the country. The service will now allow PhonePe users to make faster digital transactions by scanning QR codes. At retail outlets, food outlets and other tourist attractions. The service is being enabled through UAE's leading bank Mashreq through its NeoPay terminals. Notably, a recent report claimed that WhatsApp is also testing international UPI payments through its mobile app for Indian users.

In a press release, PhonePe said users will be able to make UPI payments through Mashreq's NeoPay terminals in the UAE, available across a wide range of outlets. The UAE-based bank partnered with National Payments Corporation of India (NPCI) International Payments Limited (NIPL) in 2021. That collaboration paved the way for PhonePe to form a new partnership with Mashreq to use the terminals for its platform.

“We aim to actively collaborate with financial institutions around the world, fostering partnerships to provide convenient and secure cross-border payment solutions for consumers. This partnership encourages fintech collaboration and integrates the ecosystem to streamline payment processes for Indian travelers in the UAE,” said Anubhav Sharma, Deputy Head – Partnership Business Development and Marketing, NIPL.

The service will work quite simply. Users can easily scan the QR code located at the outlet to make payment. Transactions will be in Indian currency while users will see the currency exchange rate for transparency. Non-Resident Indians (NRIs) will also be able to avail this service by downloading the app using UAE mobile numbers and linking their existing Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts. The company said the service aims to increase transaction convenience for the Indian community in the UAE.

Ritesh Pai, CEO, International Payments, PhonePe, said on the launch of the service, “We are thrilled to announce our partnership with Mashreq. UAE is a very popular destination, visited by millions of Indian tourists every year. With this partnership, customers can now easily transact through UPI, a payment method they are familiar with.


Affiliate links may be automatically generated – see our ethics statement for details.

notes

Follow Gadgets 360 for the latest tech news and reviews x, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know all about the top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Bitcoin leads April with small gains, altcoins get brief respite from volatility



Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *