PhonePe has teamed up with Mashreq Bank

PhonePe can be used in UAE through Neopay terminals

Most Indians already acquainted with UPI payment methods

PhonePe, a prominent digital payment platform in India, has recently unveiled its plans for venturing into international markets. Now, travelers bound for the United Arab Emirates (UAE) can conveniently utilize PhonePe’s platform for making payments. PhonePe has teamed up with Mashreq Bank to facilitate UPI transactions for individuals journeying to the Middle East through Neopay terminals located at various venues.

Customers can seamlessly engage in transactions via UPI, a payment method most Indians are already acquainted with.

Neopay Terminals are currently accessible at retail outlets, dining establishments, and various tourist destinations and entertainment centres.

This partnership is made feasible through Mashreq’s cooperation with NPCI (National Payments Corporation of India) International Payments Limited (NIPL), wherein Mashreq has authorized Neopay Terminals to accept UPI apps as a mode of payment.

To complete a transaction, an individual simply needs to scan the QR code and enter the desired amount. The deduction from the account will be in Indian rupees, with the currency exchange rate prominently displayed, as per the statement.

Moreover, this service is open to Non-Resident Indians (NRIs) holding UAE mobile numbers. To initiate payments, they need to download the PhonePe app and link their existing NRE (Non-Resident External)  and NRO (Non-Resident Ordinary Rupee) (NRO) accounts for transaction facilitation.

PhonePe has also indicated its intention to introduce inward remittance services, alongside supporting travel and local purchases, once the necessary infrastructure for such transactions is established.