On April 3, 2024, the Singapore Tourism Board (STB) and PhonePe signed a two-year Memorandum of Understanding (MoU), enabling seamless cross-border transactions via UPI from existing Indian bank accounts. Last year, Singapore became the first country to authorise transnational Person-to-Person payment services through the connection between Singapore’s Pay Now and India’s UPI. The latest collaboration between STB and PhonePe further strengthens the Unified Payments Interface (UPI) linkage between the two regions, making payments easier than ever for Indian tourists in Singapore.
UPI In Singapore: PhonePe bridges payment barriers
With its futuristic skyline, cultural neighbourhoods like Chinatown and Kampong Glam, Gardens by the Bay, and diverse culinary hotspots, Singapore is undoubtedly a haven for holiday-goers. The emergence of PhonePe in the Lion City will further elevate the tourist experience by permitting faster remittances on a familiar and secure interface. Currently, the application is linked to over 8,000 merchants in Singapore and endeavours to offer explorations that feel closer to home yet larger-than-life in the island city.
If you’re planning to visit the Lion City soon, tune into our 7-day Singapore itinerary for insider tips and insights.
Commenting on the partnership between PhonePe and the Singapore Tourism Board through a media statement, Melissa Ow, Chief Executive of the Singapore Tourism Board, said, “We are excited to announce our alliance with PhonePe, a leading Fintech player in India. This partnership exemplifies our dedication to enhancing the Singapore visitor experience for discerning, tech-savvy consumers. By seamlessly integrating Singapore’s exceptional offerings into the digital realm, our goal is to streamline payments across the traveller’s experience and promote curated deals, from attractions and retail to dining and nightlife. This initiative reflects STB’s commitment to innovation and customer-centricity in the travel industry.”
From heritage precincts and upscale shopping boutiques to the dazzling nightlife, PhonePe is rearing to revolutionise the Indian tourist’s getaway in Singapore across various realms. “Singapore is a dynamic destination with unique offerings that are well appreciated and celebrated among Indian travellers. 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, International Business for PhonePe Private Limited, weighed in.
(Feature Image Credit: Funstock/Shutterstock)
Related: UPI Goes Global: List Of Countries That Accept India’s Unified Payments Interface
