Indian Fintech Giant PhonePe Brings UPI Payments to Sri Lanka

PhonePe x LankaPay
Preeti Bali / 10:51 am / May 17, 2024

Indian digital payments leader PhonePe has joined forces with LankaPay, Sri Lanka’s national payment network, to introduce a new era of convenience for Indian tourists visiting the island nation. This collaboration, announced at a recent event, allows PhonePe users to make hassle-free payments using India’s Unified Payments Interface (UPI) at LankaQR merchants across Sri Lanka.

Making Payments a Breeze: Scan, Pay, and Go

This integration, facilitated by LankaPay’s partnership with NIPL (NPCI International Payments Limited), empowers PhonePe users to directly scan LankaQR codes using their app and make payments in their familiar Indian Rupees (INR). The app displays the current exchange rate for a transparent and convenient transaction experience. This initiative not only streamlines the payment process for travelers but also fosters a stronger digital payment infrastructure between India and Sri Lanka.

Boosting Digital Partnership Between Nations

Santosh Jha, India’s High Commissioner to Sri Lanka, underscored the significance of the UPI launch. He described it as a critical step towards achieving broader digital partnership goals between the two countries. India is also extending support to Sri Lanka in developing its Unique Digital Identity Program and other digital infrastructure projects, which are expected to have a transformative impact on the economic ties between the nations.

Convenience Meets Security for Indian Travelers

Commenting on the collaboration, Ritesh Pai, CEO of International Payments at PhonePe, highlighted the unmatched convenience this partnership offers to Indian tourists. They can now leverage a secure and familiar payment method, UPI, while traveling in Sri Lanka and make payments effortlessly at any LankaQR merchant location.

About PhonePe: India’s Leading Payments App

PhonePe, launched in August 2016 with its flagship digital payments application, has become India’s undisputed leader in the consumer payments sector. With a user base exceeding 535 million registered users and a network encompassing over 39 million merchants, PhonePe continues to redefine the digital payments landscape in India.

LankaPay: Sri Lanka’s Powerhouse Payment Network

Established in 2002 under the Central Bank of Sri Lanka’s purview, LankaPay plays a central role in the country’s financial ecosystem. In 2020, under the Central Bank’s guidance, LankaPay launched LankaQR. Today, the network connects 19 local banks and finance companies, facilitating transactions for roughly 400,000 merchants across Sri Lanka.


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