Anjali Pokhriyal
This collaboration builds upon the existing UPI linkage between India and Singapore, allowing customers to make instant cross-border transactions directly from their Indian bank accounts. Ritesh Pai, CEO of PhonePe’s International Business, expressed excitement about the partnership, stating, “Singapore is a dynamic destination with unique offerings that are well appreciated among Indian travellers. Partnering with STB will facilitate ease of transactions for PhonePe users who can now pay directly from their existing bank account by scanning a QR code when visiting the island city.
“STB and PhonePe plan to invest in joint marketing efforts across both countries to promote UPI experiences in key tourism hotspots in Singapore. Melissa Ow, Chief Executive of the Singapore Tourism Board, highlighted the dedication to enhancing the Singapore visitor experience for tech-savvy consumers. She stated, “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.”
In January, the National Payments Corporation of India (NPCI) announced the launch of the UPI-PayNow linkage, enabling Indians to receive remittances directly into their bank accounts from Singapore and vice versa. This collaboration between STB and PhonePe aims to enhance the overall travel experience for Indian tourists visiting Singapore by making payment transactions more convenient and accessible.
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