PhonePe App users travelling to the UAE can now make payments using UPI at Mashreq’s NEOPAY Terminals, the firm said. The transactions will be facilitated by the Unified Payments Interface (UPI) and the account debit will occur in Indian rupee while showing currency exchange rate, PhonePe said in a statement.
PhonePe CEO for International Payments, Ritesh Pai said, “With this partnership, customers can now conveniently transact through UPI, a payment method they are familiar with. Enabling digital payments not only reflects PhonePe’s commitment to convenience but also embraces the evolving needs of today’s travellers.”
NEOPAY Terminals are already available in retail stores, dining outlets, as well as tourist and leisure attractions. The collaboration is facilitated through Mashreq’s partnership with NPCI International Payments Limited (NIPL) under which Mashreq has enabled NEOPAY Terminals to accept UPI apps as a payment instrument.
Vibhor Mundhada, CEO of NEOPAY at Mashreq, said, “We are delighted to collaborate with PhonePe to offer yet another new payment solution for Indian tourists and visitors in the UAE, helping further cement the already strong financial relations between the two countries. This latest launch underscores our commitment to incorporating innovation and technology into our operations, and to providing the solutions and experiences our customers want and need.”
PhonePe also said that it will introduce inward remittance services once the corridor for inward remittances is enabled.
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