PhonePe on Wednesday, May 15 announced a partnership with LankaPay to allow its users to pay using unified payment interface (UPI) in Sri Lanka. At a recent event to mark the collaboration, PhonePe said its app users travelling to Sri Lanka can make payments using UPI across the LankaPay QR merchants.
The transactions will be facilitated by the UPI and LankaPay National Payment Network. Users can scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions. The amount will be debited in INR, showing the currency exchange rate.
The collaboration with LankaPay offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while travelling and paying across LankaQR merchant points, according to Ritesh Pai, CEO, International Payments, PhonePe.
Central Bank of Sri Lanka (CBSL) Governor Nandalal Weerasinghe mentioned about the collaboration’s capacity to unlock new opportunities, enhance competitiveness and the benefits that it would bring to Sri Lankan merchants.
“We are excited about the potential of this collaboration that would enhance payment experience to Indian tourists and business travellers during their stay in Sri Lanka and also provide the merchants with a cost-effective proposition to card payments,” said Channa de Silva, CEO, LankaPay.
Speaking at the event, Santosh Jha, High Commissioner of India to Sri Lanka, said the UPI launch is an important part of a larger goal for both countries to collaborate through a digital partnership. “India is also supporting Sri Lanka in the development of its Unique Digital Identity Program and other components of the Digital Stack that has immense transformative potential for Sri Lanka and the bilateral economic partnership,” Jha added.
Also Read: Indian travellers can now use PhonePe UPI payments over 8,000 merchants in Singapore
Launched in August 2016, the PhonePe digital payments app has more than 520 million registered users and a digital payments acceptance network of 38 million merchants. PhonePe processes over 230 million daily transactions. According to the Reserve Bank of India’s new rules, UPI users will now be able to use their wallet money to pay through any other third-party applications.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates & Live Business News.
Published: 15 May 2024, 06:55 PM IST
eCraftIndia Green & Golden Om & Peacock Feather Religious Designer Rakhi with Roli Chawal Pack and Happy Rakhi Wooden Cutout - Rakhi for Brother, Bhaiya, Bhai
₹119.00 (as of July 26, 2024 08:17 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
(Refurbished) realme Buds Wireless Bluetooth In Ear Neckband Headphone with Mic (Yellow)
(as of July 26, 2024 08:17 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Pidilite WD-40, Multipurpose Spray, Rust Remover, Hinge Lubricant, Stain Remover, Degreaser, and Cleaning Agent, 420ml (341g)
₹369.60 (as of July 26, 2024 08:17 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Fargo Leatherette Side Black Sling Bags For Women's Ladies
₹199.00 (as of July 26, 2024 08:17 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
