PhonePe
New Delhi: Travelers using the PhonePe app in the UAE now have the convenience of making UPI payments at Mashreq’s NEOPAY terminals. These terminals are widely available across various retail stores, dining establishments, and tourist attractions. Payment is simple and fast – users just need to scan the QR code to complete transactions seamlessly, all thanks to the Unified Payments Interface (UPI).
Moreover, non-resident Indians (NRIs) with UAE mobile numbers can also benefit from this service by downloading the PhonePe app and linking their NRE and NRO accounts for easy payments. This initiative aims to streamline transactions for the Indian community in the UAE, enhancing overall convenience.
This collaboration is made possible through Mashreq’s partnership with NPCI International Payments Limited (NIPL), enabling NEOPAY terminals to accept UPI apps as a payment method. This integration allows Indian travelers to conveniently utilize UPI for their transactions.
By combining PhonePe’s advanced technology with Mashreq’s dedication to innovation, this partnership promises to deliver an exceptional customer experience at NEOPAY terminals. It underscores Mashreq’s commitment to incorporating state-of-the-art technology into their operations, ensuring seamless transactions for all users.
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.”
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.”
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