PhonePe UPI Services Launched in UAE for Indian Travelers NRIs All Details

PhonePe on March 28 launched its Unified Payment Interface (UPI) services in the United Arab Emirates (UAE) for Indian travellers as well as NRIs living in the country. The service will now allow PhonePe users to make faster digital transactions at retail stores, restaurants and other tourist places by scanning QR codes. The service is being enabled by UAE’s leading bank Mashreq through its Neopay terminals. Notably, a recent report claimed that WhatsApp is testing international UPI payments through its mobile app for Indian users.

One press Release In the announcement, PhonePe said users will be able to make UPI payments through Mashreq’s NeoPay terminals in the UAE, which are available across a wide range of outlets. The UAE-based bank had partnered with National Payments Corporation of India (NPCI) International Payments Limited (NIPL) in 2021. That collaboration paved the way for PhonePe to form a new partnership with Mashreq to use the terminals for its platform.

Speaking on the occasion, Anubhav Sharma, Deputy Chief, Partnership Business Development & Marketing, NIPL, said, “We aim to actively collaborate with financial institutions across the globe, fostering partnerships to provide convenient and secure cross border payment solutions for consumers.”

The service will work in a very simple way. Users can simply scan the QR code located at the outlet to make the payment. The transaction will be done in Indian currency while users will see the currency exchange rate for transparency. Non-Resident Indians (NRIs) will also be able to avail this service by downloading the app using UAE mobile numbers and linking their existing Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts.

Ritesh Pai, CEO, International Payments, PhonePe, said on the launch of the service, “We are thrilled to announce our partnership with Mashreq. The UAE is a very popular destination, visited by millions of Indian tourists every year. With this partnership, customers can now easily transact via UPI, a payment method they are familiar with.”