Traveling often involves the hassle of managing foreign currency and ensuring enough cash for various expenses. By integrating PhonePe’s UPI-based QR payment system, PickMe aims to alleviate this stress for Indian travelers in Sri Lanka. PhonePe users can now make secure and quick payments for their rides using UPI.

Ritesh Pai, CEO of International Payments at PhonePe, commented, “Our partnership with PickMe demonstrates our commitment to providing Indian travelers with convenient and trusted payment solutions. Travel is about exploring new cultures, where food and local shopping are integral parts. Previously, navigating payments in a new country could be troublesome. Now, with PhonePe, Indian tourists visiting Sri Lanka can enjoy the ease and security of UPI payments for their rides.”

Jiffry Zulfer, CEO of PickMe, added, “We are currently the only ride-hailing platform in Sri Lanka offering this service to Indian travelers. We hope to continue innovating to make our service a convenient, safe, and cost-effective mode of transportation for everyone. This collaboration not only enhances convenience for Indian travelers but also supports our mission to drive digital transformation in Sri Lanka’s transportation sector. By enabling QR payments, we make travel easier and safer for tourists while providing a new revenue stream for our drivers.”

This collaboration follows PhonePe’s launch last month, during which Indian High Commissioner H.E. Santosh Jha urged Sri Lankan companies to engage with Indian firms to build on the UPI stack for innovations in hotel bookings, cab bookings, and delivery services. He commended such collaborations, expressing confidence that greater commercial engagement in the fintech sector will unlock innovation and transformation in the digital domain for both India and Sri Lanka.

Sri Lanka is a popular destination among Indian travelers. This collaboration underscores PhonePe’s commitment to enhancing the overall experience of Indian travelers by allowing them to use familiar services like UPI during their visit.

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.

Adding to the festive spirit, PhonePe also presents a special offer for redeeming digital gold at Caratlane stores until May 12. This offer includes an extra 2% discount on gold coins, a further 4% discount on unstudded jewelry, and an additional 10% off on studded jewelry.

PhonePe provides the highest purity gold sourced from trusted players in the digital gold ecosystem such as Caratlane, SafeGold, and MMTC-PAMP. Purchasing digital gold on the PhonePe app offers several benefits, including:

1. Assurance of Highest Purity: Customers can purchase certified 99.99% purity 24K Digital Gold, ensuring top-notch quality.
2. Convenience: Buying Digital Gold is made easy as customers can do so from the comfort of their homes 24*7. Upon selling their gold at any time, the funds are transferred to their bank accounts within 48 hours.
3. Secure Storage: Digital gold purchased is stored in insured bank-grade lockers, with zero making charges.
4. Flexible Investment Options: Customers can invest in digital gold with any amount of their choice, providing flexibility in investment.

In addition to one-time purchases, PhonePe also enables Indians to invest in gold digitally via SIP, facilitating long-term systematic investment. With over 1 crore customers from 19,000+ pin codes in India having bought high purity 24K gold on the PhonePe platform, the brand continues to garner trust among users.

Here’s how users can avail the offer on the PhonePe app:

Step 1: Tap ‘See All’ from the ‘Recharge & Pay Bills’ section of your PhonePe app homepage

Step 2: Select ‘Gold’ from the ‘Recharge & Bill Payment’ page

 Step 3:  Select “Buy One Time”

Step 4:  Proceed by selecting “Buy in rupees” and adding minimum Rs.1000 worth of 24K Gold

Step 5: Check the final details of your Gold purchase and click on ‘Proceed to Pay’. And it’s done!

You will see the updated Gold balance on the PhonePe app shortly. Post successful purchase, you will receive a cashback** in your PhonePe Gift Card balance.

At the event, PhonePe showcased the potential of UPI for Nepal’s burgeoning digital economy. Diwas Sapkota, CEO of FonePay Network, highlighted the significance of this development, emphasizing how UPI could revolutionize Nepal’s financial landscape.

The event featured a panel discussion on the impact of cross-border payments on Nepal’s economy. Esteemed panellists from leading financial institutions and organizations discussed various aspects such as regulatory challenges, consumer experience, and macroeconomic implications.

Ritesh Pai, CEO of International Payments at PhonePe, expressed excitement about the collaboration, stating, “We’re thrilled to be showcasing services powered by UPI in Nepal.” He highlighted the benefits for Indian tourists visiting Nepal, enabling them to enjoy seamless cashless transactions using UPI-powered apps like PhonePe.

Addressing the audience, Diwas Kumar, CEO of Fonepay Nepal, expressed pride in bringing UPI payments to Nepal after years of effort. He emphasized the potential of digital transactions to drive economic growth and financial inclusion in the country.

With UPI now live in Nepal, facilitated by Fonepay’s partnership with NPCI International, the stage is set for a digital revolution that promises to benefit merchants, businesses, and consumers alike.

With this innovative addition, users can explore and interact with apps using voice commands in their preferred language. Powered by state-of-the-art artificial intelligence and machine learning algorithms, the Voice Search technology ensures precise comprehension of diverse accents and speech patterns, delivering highly relevant search results.

The significance of this move cannot be overstated, especially considering that approximately 75% of India’s internet users prefer vernacular languages. Traditional text-based searches in regional languages often present challenges such as the need for specialized keyboards and complex character compositions, hindering seamless communication.

Indus Appstore’s Voice Search feature aims to overcome these linguistic barriers, allowing users to express themselves freely in their local language with a tap of the voice search button. This aligns perfectly with Indus Appstore’s mission to empower users with inclusive and accessible features, catering to varying literacy and linguistic preferences.

Moreover, the introduction of this feature is poised to benefit app developers significantly. Studies have shown that integrating voice search can boost app installs, offering developers a valuable tool to enhance their app’s discoverability and engagement.

Akash Dongre, Co-founder and CPO of Indus Appstore expressed his excitement about the launch, stating, ” The new Voice Search feature is our effort towards creating an inclusive and accessible app store. With 82% of smartphone users engaging in voice-activated technology, integration of Indian languages has been the strongest growth driver for tech across the six-to-sixty age spectrum. The user-centric feature positions Indus Appstore at the forefront of transformative Voice Technology that is the need of the decade.“

Indus Appstore’s introduction of Voice Search in 10 Indian languages marks a significant step towards democratizing app accessibility and fostering a more inclusive digital ecosystem. As the demand for localized and user-friendly technologies continues to rise, initiatives like these are essential for bridging the linguistic divide and ensuring equal access to digital services for all.

Within just seven months of its inception, Share.Market has amassed a user base exceeding 1.55 million lifetime customers, conducting over 1.4 million monthly active Mutual Fund (MF) SIP transactions. Moreover, the platform has enabled access to advanced analytics for over 75,000 daily engaged users, with 150,000 demat accounts established.

The inclusion of Futures and Options capabilities within Share.Market expands the platform’s offerings, incorporating comprehensive Option chain analysis to monitor Options contracts across various Indices and Stocks. These derivatives are pivotal in the journey of investors and traders, enabling effective risk management, position hedging, and portfolio optimization to enhance overall returns. The platform aims to further enhance its intelligence offerings by introducing trader-centric data points related to Greeks and strategy development, emphasizing effective money management.

Key features of the F&O offering on Share.Market include:

1. Streamlined Trading Interface: User-friendly interface for efficient F&O trading with enhanced risk management tools.
2. Advanced Intelligence: Updated Option Chain with Max Pain, Put Call Ratio (PCR), and intuitive visualization of Open Interest (OI) changes. More features like hedging tools and strategy management are forthcoming.
3. Margin Trading with Pledging: Seasoned traders can leverage existing holdings for collateral margin.
4. Educational Resources: Access to tutorials, webinars, and educational materials to deepen understanding of F&O trading strategies.

The launch of the F&O feature underscores Share.Market’s commitment to innovation and customer-centricity. By continually enriching its platform with new features and capabilities, Share.Market stays ahead of industry trends, catering to the evolving demands of investors and traders.

Share.Market, launched at the end of August 2023, redefines discount broking by providing market intelligence, quantitative research-based WealthBaskets, a scalable technology infrastructure, and an exceptional customer experience for both investors and traders. It offers a diverse range of investment products including intraday and delivery stocks, Exchange-Traded Funds (ETFs), Mutual Funds, and WealthBaskets, empowering investors from various demographics to build diverse and well-balanced portfolios.

Talking about the launch of F&O, Ujjwal Jain, CEO, Share.Market said, “As Investors and Traders empower themselves to Invest and Trade better, Share.Market has been able to take the ambitious steps to elevate Discount Broking powered by Intelligence.” He further added, “With the launch of Futures and Options trading to our platform, we are further expanding our suite of offerings. This addition will further strengthen our efforts to empower investors and traders with the tools and resources they need to navigate today’s dynamic financial markets.”

The Fewa New Year Festival boasts a vibrant atmosphere with diverse attractions, including food stalls offering traditional Nepali and international cuisine, live music performances by both local and international artists, captivating cultural displays featuring traditional Nepali dances and music, as well as engaging art exhibitions and workshops. This iconic event presents a wonderful opportunity to indulge in Nepalese culture and savor local culinary delights.

Aligned with its commitment to promote digital payments through UPI, PhonePe will lead various initiatives during the festival to enhance awareness and adoption of digital transactions among local merchants and visitors. The activities will include on-ground campaigns aimed at educating merchants on the convenience of digital payments and showcasing the simplicity of UPI transactions to consumers. With extensive on-ground and digital branding, interactive kiosks demonstrating digital payment methods, and engaging activities, PhonePe, alongside e-Sewa and HAN Pokhara, will highlight the seamless experience of using UPI for transactions.

The festival is expected to host over 3,000 participating merchants and attract more than 100,000 visitors. This collaborative effort between PhonePe, e-Sewa, and HAN Pokhara underscores a collective commitment to advancing digital payment solutions and enhancing the overall festival experience.

Speaking on the partnership, Ritesh Pai, CEO International Payments, PhonePe, said, “We are excited to partner with eSewa and the Hoteliers Association of Nepal to help popularize   UPI as a part of the popular Fewa New Year Festival. Nepal attracts many Indian visitors annually who come to experience the music, food, and culture of this beautiful place. Our focus will be on creating merchant education and awareness to ensure the uptick of UPI on the Fonepay Network in Nepal. This partnership will revolutionize Nepal’s digital landscape, ensuring PhonePe customers can effortlessly conduct transactions at their convenience, regardless of location.’’

Mr. Jagdish Khadka, CEO, eSewa said “Partnering with PhonePe and the Hotel Association of Nepal for the Fewa New Year Festival is an exciting opportunity for eSewa to further promote digital payments in Nepal. As the country’s leading digital wallet, we are committed to enhancing the digital payment ecosystem and providing convenient solutions for both merchants and consumers. With Indian visitors being a major visitor for Nepal, this move aligns well to cater the needs of visitors and enhance their overall experience. Through this collaboration, we aim to showcase the benefits of using UPI and Fonepay network and empower merchants to embrace digital transactions, ultimately contributing to the growth of Nepal’s digital economy. Additionally, we believe such collaboration will foster greater financial inclusion and accessibility.”

Mr. Laxman Subedi, President HAN Pokhara Chapter said,“In the joyous spirit of Nepali New Year 2081, 19^th Fewa New Year Festival aims to attract 300,000 visitors. Pokhara’s hotels, supported by the Hotel Association of Nepal, offer discounts of up to 20% to ensure comfortable stay for tourists travelling to Pokhara. Embracing our values of Tourism, Culture, and Food, Pokhara stands out as a beacon of Nepal’s tourism appeal. Together, let’s reveal the beauty of our region, preserve our cultural heritage, welcome visitors from far and wide, and breathe new life into our hospitality sector.”

Mr. Diwas Sapkota, CEO, Fonepay said, “It brings us a great pleasure to witness the strategic partnership with PhonePe India, eSewa Nepal, and the Hoteliers Association of Nepal to promote the integration of UPI capabilities onto the Fonepay Network. The New Year Festival serves as an ideal venue to highlight the impact of this collaboration. With its massive turnout, the festival brings people to the heart of Nepal’s cultural and economic center, offering everyone the chance to witness and experience the advancements in payment technology.”

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.”

Through this partnership, PhonePe users can now purchase a comprehensive health insurance policy from Star Health Insurance, offering coverage up to Rs. 1 crore. Notably, this is the first time that comprehensive health insurance from Star Health Insurance will be available with a monthly premium payment plan, which is a pioneering initiative by PhonePe in the industry. Additionally, users can opt for UPI Autopay mandate to make seamless payments of their premium, further enhancing the convenience.

Comprehensive health insurance policy covers a wide range of benefits, including OPD and maternity coverage, road ambulance and air ambulance expenses, outpatient medical consultation, dental and eye treatment coverage, delivery expenses, organ donor expenses, coverage for newborns, and Mental well-being. Having support, and much more. The policy also offers wellness programs, annual health checkups, automatic restoration of sum assured and cumulative bonuses.

Vishal Gupta, CEO, PhonePe Insurance, expressed his excitement about the partnership, highlighting the combined benefits of Star Health’s insurance offerings and PhonePe’s customer-centric approach. They emphasized on their shared mission to increase insurance adoption and penetration across India.

Anand Roy, MD & CEO, Star Health Insurance, stressed the importance of providing hassle-free payment options to digitally savvy consumers, especially Gen Z and Millennials. He underlined Star Health’s commitment to providing comprehensive health coverage along with additional services such as free teleconsultation, home care and nutritionists.

Customers can easily purchase the policy through the PhonePe app by selecting the desired coverage, payment term and payment method. With this partnership, PhonePe and Star Health Insurance aim to introduce more innovative offerings in their product portfolio, thereby increasing accessibility and affordability in the health insurance segment. For more information, visit www.phonepe.com and www.starhealth.in

Indus Appstore, available to consumers, provides access to over 2 lakh mobile apps and games spanning 45 categories. What sets it apart is its focus on localization, featuring app search in 12 Indian languages, which caters to 95% of language preferences among Indian users. Additionally, the platform introduces a novel short-video-based search feature, which enhances the app exploration experience for consumers.

To promote fair competition, Indus Appstore allows unprecedented flexibility to app developers by allowing the use of any third-party payment gateway for in-app billing without charging any commission. Additionally, developers have been given a waiver on app listing fees for the first year till April 1, 2025, incentivizing their participation in the platform.

The timing of the launch of Indus AppStore coincides with growing calls from India’s startup ecosystem for increased competition in the mobile app store domain. PhonePe CEO and Founder Sameer Nigam emphasized the role of the App Store in fostering a more democratic and vibrant digital ecosystem, challenging existing norms and promoting inclusivity.

Indus Appstore is now available for download at https://www.indusappstore.com

About Indus Appstore:

Indus Appstore is a native Android-based mobile app store designed to meet the local and cultural preferences of Indian consumers. With a wide variety of categories, it aims to provide users a personalized experience while ensuring accessibility in English and 12 Indian languages.

For developers, Indus Appstore provides a platform to list, distribute and promote their products within the Indian app ecosystem. Along with self-publishing capabilities, it offers localization services, performance monitoring tools, and dedicated customer support.

For media enquiries: media@indusappstore.com

https://www.indusappstore.com

About PhonePe:

PhonePe Group is India’s leading fintech company, best known for its flagship product, the PhonePe digital payments app. With over 510 million registered users and a network of 38 million merchants, PhonePe drives over 220 million daily transactions, reflecting its dominant position in the consumer payments landscape.

Apart from digital payments, the PhonePe group has diversified into financial services and consumer tech ventures, including hyperlocal e-commerce through pincodes and localization-focused Indus Appstore. With a commitment to empowering every Indian through financial access and technological innovation, PhonePe Group is driving progress and inclusivity.

For media enquiries: media@phonepe.com