PhonePe and LankaPay Join Forces to Boost UPI Payment Acceptance in Sri Lanka
New Delhi: PhonePe, a leading digital payment platform, has announced a groundbreaking collaboration with LankaPay to enable UPI payment acceptance across LankaQR merchant points in Sri Lanka. The grand event held in Colombo marked the official launch of this partnership, attended by esteemed dignitaries from both the Sri Lankan and Indian Governments.
His Excellency Shri Santosh Jha, the High Commissioner of India to Sri Lanka, graced the occasion as the Chief Guest, emphasising the pivotal role of fintech connectivity in bolstering ties between India and Sri Lanka. Dr Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), acknowledged the collaboration’s potential to unlock new opportunities and enhance competitiveness for Sri Lankan merchants.
The event featured an insightful panel discussion moderated by Channa de Silva, CEO of LankaPay, on ‘The Future of Digital Payments in Sri Lanka: Opportunities for Sri Lankan Businesses.’ Industry experts discussed strategies for local businesses to leverage digital payment technologies and tap into wider markets to stay competitive.
Ritesh Pai, CEO of International Payments at PhonePe, unveiled insights on leveraging UPI for global markets and its growth prospects for merchants. He highlighted the convenience PhonePe’s partnership with LankaPay brings to Indian tourists, allowing them to make secure UPI payments at LankaQR merchant points nationwide.
Speaking on the occasion, Shri Santosh Jha emphasised the broader digital partnership between India and Sri Lanka, citing support for Sri Lanka’s development of its Unique Digital Identity Program. Ritesh Pai expressed PhonePe’s excitement about the collaboration, stating their commitment to driving innovation in payments.
Channa de Silva of LankaPay echoed the enthusiasm, highlighting the collaboration’s potential to enhance payment experiences for Indian tourists and business travellers while providing cost-effective solutions for merchants. He emphasises innovation as the cornerstone of this alliance, foreseeing further strengthening of bilateral relations between the two countries.
The partnership between PhonePe and LankaPay signifies a significant stride towards facilitating seamless cross-border payments and fostering economic cooperation between India and Sri Lanka.
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