The transaction will show the exchange rate and the account will be debited in Indian rupees, it said.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| IIT Delhi | IITD Certificate Programme in Data Science & Machine Learning | Visit |
| IIM Kozhikode | IIMK Advanced Data Science For Managers | Visit |
| Indian School of Business | ISB Professional Certificate in Product Management | Visit |
Along with Indians travelling there, non-resident Indians living in the UAE can also download the PhonePe app and use their designated non-resident accounts with Indian banks to make payments there.
“UAE is a very popular destination, with millions of Indian visitors every year. This collaboration opens doors to seamless transactions, ensuring a smoother and more enjoyable journey for visitors,” said Ritesh Pai, CEO, International Payments, PhonePe.
This collaboration is facilitated through Dubai-headquartered Mashreq’s partnership with NPCI International Payments Limited (NIPL) and is part of the government’s plan to take UPI outside India. Mashreq has enabled Neopay terminals to accept UPI as a payment instrument.
Anubhav Sharma, deputy chief, partnership business development and marketing, NIPL, said this is part of their efforts to create cross-border payment solutions for consumers.
Discover the stories of your interest
“This partnership unifies the ecosystem to streamline payment processes for Indian travellers to the UAE,” Sharma added.In addition to facilitating travel and local transactions, PhonePe will also introduce inward remittance services once the corridor for inward remittances is enabled. This will simplify the process of transferring money by leveraging the UPI infrastructure, thereby eliminating the need for details such as bank account numbers and IFSC codes, Walmart-backed PhonePe said today.