PhonePe Users Can Now Make UPI Payments in UAE via NEOPAY Terminals
we have Ritesh Pai - CEO, International Payments at PhonePe and Vibhor Mundhada, CEO of NEOPAY at Mashreq.
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 strategic alliance combines PhonePe’s cutting-edge technology with Mashreq’s commitment to incorporate best-in-class tech and innovation in their operations. It will play a vital role in providing a superlative customer experience at NEOPAY terminals.
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.”
Vibhor Mundhada, CEO of NEOPAY at Mashreq added, “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.”
Anubhav Sharma, Deputy Chief - Partnership Business Development & Marketing, NIPL said, “We aim to actively collaborate with financial institutions around the world, fostering partnerships to deliver convenient and secure cross-border payment solutions for consumers. This partnership encourages fintech collaboration and unifies the ecosystem to streamline payment processes for Indian travelers to UAE.”
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.
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