PhonePe and LankaPay Foster UPI Payments in Sri Lanka

New Delhi:  PhonePe, a prominent digital payment platform, has announced a landmark collaboration with LankaPay to introduce UPI payment acceptance across LankaQR merchant points in Sri Lanka. The unveiling took place at a prestigious event in Colombo, attended by distinguished figures from the Sri Lankan and Indian Governments.

His Excellency Shri Santosh Jha, India’s High Commissioner to Sri Lanka, graced the occasion, emphasising the significance of fintech connectivity in strengthening Indo-Sri Lankan ties. Dr Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), hailed the partnership’s potential to unlock new opportunities and enhance competitiveness for Sri Lankan merchants.

A thought-provoking panel discussion moderated by Channa de Silva, CEO of LankaPay, focused on ‘The Future of Digital Payments in Sri Lanka: Opportunities for Sri Lankan Businesses.’ Industry leaders deliver on leveraging digital payment technologies to expand market reach and competitiveness.

Ritesh Pai, CEO of International Payments at PhonePe, shared insights on UPI’s global market potential and its benefits for merchants. He underscored the convenience PhonePe’s collaboration with LankaPay brings, enabling Indian tourists to make secure UPI payments at LankaQR merchant points nationwide.

Shri Santosh Jha emphasises the broader digital partnership between India and Sri Lanka, highlighting support for Sri Lanka’s digital initiatives. Ritesh Pai expressed PhonePe’s commitment to driving payment innovation.

Channa de Silva lauded the collaboration’s potential to enhance payment experiences for Indian tourists and business travellers while providing cost-effective solutions for merchants. He envisioned innovation as the cornerstone of the alliance, contributing to stronger bilateral relations.

The PhonePe-LankaPay partnership signifies a significant stride towards seamless cross-border payments, fostering economic cooperation between India and Sri Lanka.