The Fintech Major explained that the PhonePe users will be able to make UPI payments by scanning QR codes at LankaPayQR merchants. PhonePe said that these user accounts will be debited in Indian rupees at existing exchange rates to ease the digital payment process. LankaPay claims to  have have more than 4 Lakh merchant partners across the Island nation. 

Fintech major Phonepe has partnered with LankaPay to enable Unified Payments Interface (UPI) payments for Indian users travelling to Sri Lanka.

As part of the collaboration, PhonePe users will be able to make UPI payments by scanning QR codes at LankaPayQR merchants. In a statement, PhonePe said that these transactions will be facilitated by the UPI and the LankaPay National Payment Network.

The fintech major added that the user accounts will be debited in Indian rupees at existing exchange rates to ease the digital payment process. LankaPay claims to have more than 4 Lakh merchant partners across the island nation.

Last month, PhonePe also signed a two-year pact with the Singapore Tourism Board (STB) to enable UPI payments for Indian visitors in Singapore. At that time, the company said that Indian travellers to the country would be able to use the PhonePe app at 8,000+ merchants in Singapore

The new offering was launched during an event in Colombo which was attended by Indian High Commissioner to Sri Lanka Santosh Jha and Central Bank of Sri Lanka’s Governor Nandalal Weerasinghe.