PhonePe In Singapore: In a piece of good news for the people of Singapore, FinTech firm PhonePe on Wednesday announced that its users can now make online payments using UPI in Singapore under a pact signed by the company with The Singapore Tourism Board. The partnership is based on the current Unified Payments Interface (UPI) connection between Singapore and India, which enables users to instantly transfer money between the two nations using their current Indian bank accounts.
“Singapore Tourism Board (STB) and PhonePe enter a two-year strategic partnership to promote UPI payments for Indian visitors in Singapore,” PhonePe, a decacorn, said in a statement.
Speaking about the same, STB Chief Executive Officer Melissa Ow said, “This partnership exemplifies our dedication to enhancing the Singapore visitor experience for discerning, tech-savvy consumers.”
PhonePe In Singapore: Allows Payment Across Over 8,000 Merchants In Singapore
In order to promote seamless UPI experiences throughout important tourist destinations, STB and PhonePe will invest in coordinated marketing campaigns throughout Singapore and India as part of their collaboration. It will allow Indian travellers to make instant, seamless, and secure payments across over 8,000 merchants in Singapore, enhancing their experience in the island city.
“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,” Ritesh Pai, Chief Executive Officer, PhonePe, International Business for PhonePe Private Limited, said.
PhonePe handles more than 230 million transactions per day, with a Total Payment Value (TPV) of more than USD 1.5 trillion annually.
(With inputs from PTI)
