Payment platform
PhonePe
is allowing users traveling to the UAE to make payments using
UPI
at
Mashreq
's
Neopay
terminals. PhonePe users will be able to make UPI payments across a wide array of retail stores, dining outlets, as well as tourist and leisure attractions located in the UAE.
How to use PhonePe to make payments in UAE
For such payments, users need to scan the QR code and these transactions will be facilitated by the Unified Payments Interface (UPI).
The company has also confirmed that the accounts will be debited in INR and will alson show the currency exchange rate.
Additionally, NRIs with UAE mobile numbers can also download the PhonePe App and link their existing NRE and
NRO accounts
to facilitate payments. This aims to enhance the ease and convenience of transactions for the Indian diaspora in the UAE.
How PhonePe is making UPI payments possible in UAE
This collaboration is facilitated through Mashreq’s partnership with
NPCI International Payments Limited
(NIPL). Through this partnership, Mashreq has enabled Neopay terminals to accept UPI apps as a payment instrument, thus allowing Indian travelers to conveniently use UPI for transactions.
This alliance combines PhonePe’s technology with Mashreq’s commitment to incorporate best-in-class tech and innovation in their operations. It will play a vital role in providing an improved customer experience at Neopay terminals.
In addition to facilitating travel and local transactions, PhonePe will also introduce inward remittance services once the corridor for inward remittances is enabled. This will simplify the process of transferring money by leveraging the UPI infrastructure, thereby eliminating the need for details such as bank account numbers and IFSC codes.
Speaking on the partnership
Ritesh Pai
, CEO International Payments, PhonePe said: “We are thrilled to announce our partnership with Mashreq. UAE is a very popular destination, with millions of Indian visitors every year. 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. This collaboration opens doors to seamless transactions, ensuring a smoother and more enjoyable journey for visitors.”
