Indians staying in UAE can now make UPI payments using PhonePe app

tech.hindustantimes.com:

Indian tourists and NRIs visiting the UAE can now make UPI payments using the PhonePe app. This development comes as a result of the National Payments Corporation of India (NPCI) partnering with Mashreq Bank's NEOPAY, paving the way for UPI-based payments in the Gulf Nation. With a substantial Indian expat population residing in the UAE, the inclusion of UPI as a payment option simplifies financial transactions for Indian travellers.

Previously, in 2021, UPI services were successfully introduced in Bhutan through collaboration with the Royal Monetary Authority, Bhutan's central bank.

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"UAE is a very popular destination, with millions of Indian visitors every year. With this partnership, customers can now conveniently transact through UPI, a payment method they are familiar with," said

PhonePe plans to introduce inward remittance services leveraging the UPI infrastructure once the corridor for inward remittances is established. This approach aims to streamline money transfers, eliminating the need for intricate banking details such as account numbers and IFSC codes.

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It's important to note that UPI payments in the UAE are facilitated through NEOPAY terminals at participating shops. Users must have an Indian bank account and a compatible mobile app like BHIM to initiate UPI transactions. Currently operational in Bhutan and Nepal, UPI payments are anticipated to expand to Singapore by the year's end.

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Vibhor Mundhada, CEO of NEOPAY at Mashreq, echoed similar sentiments, emphasizing the significance of offering innovative payment solutions for Indian tourists in the UAE. "This latest launch underscores our commitment to incorporating innovation and technology into our operations," stated