Singapore Tourism Board (STB) and PhonePe collaboration
New Delhi: The Singapore Tourism Board (STB) and PhonePe have formalized a two-year Memorandum of Understanding (MoU). This agreement was officially signed during a ceremony held on the morning of Wednesday, April 3rd, where STB’s Chief Executive, Melissa Ow, and Ritesh Pai, Chief Executive Officer of International Payments Business at PhonePe, executed the MoU. This collaboration leverages the existing Unified Payments Interface (UPI) linkage between India and Singapore, enabling customers to conduct instant cross-border transactions directly from their Indian bank accounts.
Under this partnership, STB and PhonePe will jointly invest in marketing initiatives across India and Singapore to promote the destination’s vibrant attractions and seamless UPI experiences at key tourism hubs.
This strategic achievement marks the first collaboration of its kind between a destination and a UPI payments platform, highlighting the shared dedication of STB and PhonePe to enhancing the overall travel experience in Singapore. By offering familiar services like UPI payments, travellers can fully enjoy the vibrant cityscape of Singapore, renowned for its iconic landmarks and rich heritage precincts, each with its unique allure. This initiative unlocks seamless exploration of Singapore’s diverse offerings, including exceptional retail, culinary delights, and thrilling adventures that have long captivated Indian visitors.
Melissa Ow, Chief Executive, Singapore Tourism Board, said: “We are excited to announce our alliance with PhonePe, a leading Fintech player in India. This partnership exemplifies our dedication to enhancing the Singapore visitor experience for discerning, tech-savvy consumers. By seamlessly integrating Singapore’s exceptional offerings into the digital realm, our goal is to streamline payments across the traveller’s experience and promote curated deals, from attractions and retail to dining and nightlife. This initiative reflects STB’s commitment to innovation and customer-centricity in the travel industry.”
Ritesh Pai, Chief Executive Officer, PhonePe, International Business for PhonePe Private Limited, said: “Singapore is a dynamic destination with unique offerings that are well appreciated and celebrated among Indian travellers. Partnering with STB will facilitate ease of transactions for PhonePe users who now can just pay directly from their existing bank account by scanning a QR code when visiting the island-city.”
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