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PhonePe Announces UPI Services in UAE for Travelling Indian Users

Photo: PhonePe

PhonePe introduced its Unified Payments Interface (UPI) services in the United Arab Emirates (UAE) on March 28, catering to Indian travelers and NRIs residing there. Users can now conduct swift digital transactions by scanning QR codes at various retail stores, dining outlets, and tourist attractions. This service is made possible through the Neopay terminals of UAE's leading bank, Mashreq. Interestingly, WhatsApp is reportedly testing international UPI payments through its mobile apps for Indian users.

According to a press release, PhonePe users in UAE can utilize Mashreq's Neopay terminals, available at numerous outlets, for making UPI payments. Mashreq collaborated with the National Payments Corporation of India's (NPCI) International Payments Limited (NIPL) in 2021, facilitating PhonePe's partnership to utilize these terminals.

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Anubhav Sharma, Deputy Chief – Partnership Business Development & Marketing at NIPL, emphasized the importance of global fintech collaborations in providing seamless cross-border payment solutions for consumers.

The payment process is simple: users scan QR codes at outlets to initiate transactions, with payments occurring in Indian currency while displaying the currency exchange rate for transparency. NRIs can also access this service by downloading the app, linking their existing Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts, and using UAE mobile numbers. PhonePe aims to enhance transaction convenience for the Indian community in the UAE through this service.

Ritesh Pai, CEO of International Payments at PhonePe, expressed excitement about the partnership with Mashreq, recognizing the popularity of UAE as a destination for millions of Indian visitors annually. He highlighted the convenience of UPI transactions for customers familiar with the payment method.

April 2, 2024 1:31 p.m. 12594

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