PhonePe, one of the leading digital payments platform on Wednesday, May 15, announced that the company had entered into a partnership with LankaPay, a collaboration that aims to introduce UPI payments in Sri Lanka and offer users a convenient and secure way to make transactions.
PhonePe, at an event to mark the collaboration, said that the Indian tourists visiting Sri Lanka who uses their app can make payments using UPI across LankaPay QR merchants. Moreover, this can eliminate the hassle of carrying carrying cash or dealing with currency conversions, as transactions are processed in INR with the current exchange rate displayed.
PhonePe's CEO, International Payments, Ritesh Pai, said the collaboration with LankaPay offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while travelling and paying across LankaQR merchant points
Similarly, LankaPay CEO Channa de Silva added, "We are excited about the potential of this collaboration that would enhance payment experience to Indian tourists and business travellers during their stay in Sri Lanka and also provide the merchants with a cost-effective proposition to card payments."
Potential benefits of the digital payment technologies/Representative Image |
Panel Discussion Highlights Opportunities
A panel discussion titled 'The Future of Digital Payments in Sri Lanka: Opportunities for Sri Lankan Businesses' was also held at the event, highlighting potential benefits of the digital payment technologies.
About PhonePe
The PhonePe's digital payment app, launched in 2016, has over 520 million registered users and a network growth of 38 million merchants. Moreover, the process over 230 million daily transactions.
