New Delhi: PhonePe, a leading digital payment service in India has recently made an announcement regarding its expansion into international markets. Now, travelers heading to the United Arab Emirates (UAE) can conveniently make payments using PhonePe’s platform. Phonpe has partnered with Mashreq Bank to enable individuals traveling to the Middle East to conduct UPI transactions using Neopay terminals situated at various locations.
Ritesh Pai, who serves as the CEO for International Payments at PhonePe, stated, “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 travelers.”
NEOPAY Terminals are currently accessible at retail shops, restaurants, and various tourist spots and entertainment venues. This cooperation is made possible through Mashreq’s collaboration with NPCI International Payments Limited (NIPL), wherein Mashreq has authorized NEOPAY Terminals to accept UPI apps as a method of payment.
To complete the payment, an individual only needs to scan the QR code and input the desired amount. The deduction from the account will be in Indian rupees, with the currency exchange rate clearly displayed, as per the statement.
Furthermore, this service is accessible to Non-Resident Indians (NRIs) who possess UAE mobile numbers. To make payments, they must download the PhonePe app and connect their existing NRE and NRO accounts to enable transactions.
PhonePe also mentioned that in addition to supporting travel and local purchases, the company aims to introduce inward remittance services once the infrastructure for such transactions is established.