2024-05-17 By Surbhi Chauhan UPI Payments

PhonePe collaborates with LankaPay to enable UPI payments for users in Sri Lanka


PhonePe, a prominent fintech company from India, has teamed up with LankaPay, the primary payment network of Sri Lanka supervised by the Central Bank, to introduce Unified Payments Interface (UPI) transactions in the island nation. This collaboration marks a significant milestone in expanding UPI services beyond India's borders, particularly benefiting Indian tourists visiting Sri Lanka by offering them seamless digital payment options.

Through PhonePe’s platform, Indian travelers can now conduct UPI-enabled transactions in Indian Rupees (INR) at various merchants across Sri Lanka, eliminating the complexities associated with traditional payment methods and currency exchange. This convenience allows tourists to explore the country more freely, engaging in local activities with a reliable and secure payment method.

Beyond its practical implications for travelers, the partnership underscores the deepening bilateral ties between India and Sri Lanka. By leveraging LankaPay’s robust infrastructure and local expertise, PhonePe demonstrates its commitment to fostering international business alliances and driving digital innovation on a global scale. This strategic collaboration is poised to enhance economic prosperity and mutual growth for both nations.

Ritesh Pai, CEO of PhonePe’s international payments division, emphasized the company’s dedication to advancing payment industry innovation through this partnership. By harnessing UPI technology, PhonePe continues to lead in digital payments, offering unparalleled accessibility and user experience enhancements. This initiative not only strengthens PhonePe’s position in the global financial sector but also underscores its commitment to driving digital transformation worldwide.