Experience seamless payments with UPI
across LankaPay QR merchants while traveling in Sri Lanka.
PhonePe has joined hands with LankaPay to bring UPI payments to Sri Lanka, offering a convenient payment method for Indian tourists and business travelers. At the launch event, PhonePe highlighted that users can now make secure and quick payments using UPI across LankaPay QR merchants. This collaboration leverages the Unified Payments Interface (UPI) and LankaPay National Payment Network, enabling users to scan Lanka, QR codes and pay without the hassle of carrying cash or worrying about currency conversions. The amount will be debited in INR, displaying the current currency exchange rate.
Ritesh Pai, CEO of International Payments at PhonePe, emphasized the convenience this partnership brings to Indian tourists, providing them with a familiar and secure payment method during their time in Sri Lanka. On the merchant side, LankaPay CEO Channa de Silva highlighted the cost-effectiveness compared to card payments. The partnership received praise from Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), who noted its potential to unlock new opportunities and enhance competitiveness for Sri Lankan merchants. The launch was also endorsed by Santosh Jha, High Commissioner of India to Sri Lanka, as part of a broader digital partnership between the two countries.
PhonePe's digital payments app, launched in 2016, boasts over 520 million registered users and a network of 38 million merchants. Beyond payments, PhonePe has expanded into financial services and consumer tech businesses, showcasing its commitment to innovation in the digital space. The event also featured a panel discussion on 'The Future of Digital Payments in Sri Lanka,' where industry leaders explored opportunities for businesses to leverage digital payment technologies and stay competitive in an evolving economic landscape. Representatives from banking, tourism, payment systems, and business associations were in attendance, reflecting the broad interest and potential impact of this collaboration.
