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    PhonePe enables UPI transactions with Sri Lankan ride hailing platform PickMe

    PhonePe has announced its collaboration with Sri Lankan ride hailing platform PickMe to enable UPI-based QR payments for Indian travellers in Sri Lanka. The partnership will allow Indian tourists to conduct cashless transactions on PickMe rides, making PickMe the first ride-hailing platform in Sri Lanka to offer such a service to Indians travelling to Sri Lanka. Commenting on the partnership, Jiffry Zulfer, CEO of PickMe said that the collaboration  supports PickMe’s mission “to drive digital transformation in Sri Lanka’s transportation sector”, boost the local economy and provide “a new revenue stream” for its drivers.

    Last month, PhonePe enabled UPI payments in collaboration with LankaPay across LankaQR merchant points via the Phonepe App. The transactions facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network, also aimed to cater to the needs of Indian tourists and entrepreneurs in Sri Lanka. Users will be able to scan LankaQR codes to make digital payments and not have to calculate currency conversions, as their accounts will be debited in INR, showing the currency exchange rate.

    At an event launching the collaboration, the High Commissioner of India to Sri Lanka, Santosh Jha, said, “The UPI launch is an important part of a larger goal for both countries to collaborate through a digital partnership.” Further he added, “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.” He also urged Sri Lankan  companies to engage with Indian companies to build on the UPI stack for innovations in hotel bookings, cab bookings, delivery services etc.

    NIPL has also partnered with banks and merchants in several countries to set up UPI-powered transactions at select merchant locations in a bid to benefit Indians traveling abroad, including the United Arab Emirates, Singapore, Nepal, and Bhutan.

    Additionally, in January this year, the NIPL signed an agreement with Google Pay to expand UPI acceptance in various countries to ease the process of cross-border remittances and reduce dependence on conventional money transfer channels.

    Expansion of UPI internationally has been a priority for India as RBI’s annual report recently revealed that it aims to work with the NIPL to expand UPI to 20 countries by 2028-29.

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    The post PhonePe enables UPI transactions with Sri Lankan ride hailing platform PickMe appeared first on MEDIANAMA.

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