PhonePe will now allow Indian travelers to make UPI payments in UAE: Details

PhonePe launched its Unified Payments Interface (UPI) service in the United Arab Emirates (UAE) on March 28 for Indian travelers as well as NRIs living in the country. The service now allows PhonePe users to make quick digital transactions at retail stores, F&B outlets and other tourist attractions by scanning QR codes. The service is enabled through the Neopay terminal of Mashreq, a major bank in the UAE. Notably, a recent report claimed that WhatsApp is also testing international Unified Payments Interface (UPI) payments through its mobile app for Indian users.

in a Press releasePhonePe said users will be able to make UPI payments in the UAE through Mashreq’s Neopay terminal, which is available at numerous outlets.The UAE-based bank partnership 2021 in partnership with National Payments Corporation of India (NPCI) International Payments Limited (NIPL). This collaboration paves the way for PhonePe to enter into a new partnership with Mashreq and use the terminal on its platform.

“We aim to actively work with financial institutions around the world to cultivate partnerships that provide consumers with convenient and secure cross-border payment solutions. This partnership encourages fintech collaboration and unifies the ecosystem to simplify travel to Payment process for Indian tourists in the UAE,” said Anubhav Sharma, Vice President, Business Development and Marketing, NIPL Partners.

The service will run in a fairly simple way. Users only need to scan the QR code of the outlet to make payment. Transactions will be conducted in Indian currencies and users will see currency exchange rates for greater transparency. Non-Resident Indians (NRIs) can also avail the service using a UAE mobile number by downloading the app and linking their existing Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts. The company said the service is aimed at enhancing transaction convenience for the Indian community in the UAE.

Ritesh Pai, CEO, International Payments, PhonePe, said at the launch of the service, “We are delighted to announce our partnership with Mashreq. The UAE is a very popular destination with millions of Indian tourists every year. With this partnership , customers can now conveniently transact through UPI, their familiar payment method.”