PhonePe on Wednesday announced a partnership with LankaPay to allow its users to pay using UPI across Sri Lanka. So the phonepay users who are travelling to Sri Lanka can use UPI payment due to this new partnership. At an event to mark the collaboration PhonePe said its app users travelling to Sri Lanka can make payments using UPI across LankaPay QR merchants. The transactions will be facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network. How To Use PhonePe In Sri Lanka? Users can scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions. The amount will be debited in INR showing the currency exchange rate. PhonePes CEO International Payments Ritesh Pai said the collaboration with LankaPay offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while travelling and paying across LankaQR merchant points. We are excited about the potential of this collaboration that would enhance payment experience to Indian tourists and business travellers during their stay in Sri Lanka and also provide the merchants with a cost-effective proposition to card payments LankaPay CEO Channa de Silva said. Sri Lanka On PhonePe UPI Partnership Central Bank of Sri Lanka (CBSL) Governor Nandalal Weerasinghe mentioned about the collaborations capacity to unlock new opportunities enhance competitiveness and the benefits that it would bring to Sri Lankan merchants. Speaking at the event Santosh Jha High Commissioner of India to Sri Lanka said the UPI launch is an important part of a larger goal for both countries to collaborate through a digital partnership. India is also supporting Sri Lanka in the development of its Unique Digital Identity Program and other components of the Digital Stack that has immense transformative potential for Sri Lanka and the bilateral economic partnership Jha added. Launched in August 2016 the PhonePe digital payments app has more than 520 million registered users and a digital payments acceptance network of 38 million merchants. PhonePe processes over 230 million daily transactions. The PhonePe Group has also expanded into financial services and consumer tech businesses. (With Inputs From PTI)
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