If you are travelling to UAE and you have a PhonePe App then making payment digitally becomes a lot more easier now. This is because PhonePe users will now have the option of making UPI payments at the NEOPAY terminals. They have to simply scan the QR code at Mashreq’s NEOPAY terminals, enter the amount – Voila! the payment is done in a matter of seconds.
According to a PhonePe statement, Mashreq’s NEOPAY Terminals will now accept UPI apps as a payment options. This is as a result of collaboration between NPCI International Payment and the Mashreq Bank. The amount debited will be in rupee and the user will also get a clear understanding of the exchange rate considered for the transaction.
The NEOPAY terminals are easily available and spread across various retail stores, dining outlets, and tourist spots across the UAE.
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Ritesh Pai, CEO of International Payments at PhonePe, remarked, “Through this collaboration, customers can now easily conduct transactions via UPI, a familiar payment method.”
PhonePe also suggested its intention to introduce inward remittance services once the corridor for such transactions is enabled.
Vibhor Mundhada, CEO of NEOPAY, highlighted that this “recent launch underscores our dedication to integrating innovation and technology into our services, ensuring we deliver the solutions and experiences our customers.”
How does it work?
NRIs with UAE mobile numbers can utilize this service and to make payments, they must download the PhonePe app and link their existing NRE and NRO accounts. This process facilitates seamless transactions for them.
The company stated that this initiative is geared towards improving the ease of transaction for the Indian diaspora residing in the UAE.
