PhonePe app users visiting the UAE can now conveniently make payments using UPI at Mashreq’s NEOPAY Terminals, as announced by the company. The transactions will be facilitated through the Unified Payments Interface (UPI), with the account debit occurring in Indian rupees while displaying the currency exchange rate, according to a statement from PhonePe.
Convenience for Travelers
Ritesh Pai, PhonePe’s CEO for International Payments, expressed the significance of this partnership, highlighting how customers can now seamlessly transact using a familiar payment method like UPI. This move not only reflects PhonePe’s dedication to convenience but also addresses the evolving needs of today’s travelers.
Facilitating Financial Transactions
NEOPAY Terminals are already available across various retail stores, dining outlets, tourist attractions, and leisure destinations. The collaboration between PhonePe and Mashreq is made possible through Mashreq’s partnership with NPCI International Payments Limited (NIPL), enabling NEOPAY Terminals to accept UPI apps as a payment instrument.
Enhancing Financial Relations
Vibhor Mundhada, CEO of NEOPAY at Mashreq, expressed delight in collaborating with PhonePe to offer this new payment solution for Indian tourists and visitors in the UAE. This initiative aims to strengthen the financial ties between the two countries and underscores Mashreq’s commitment to incorporating innovation and technology into its operations to meet customer needs effectively.
