Singapore Tourism Board (STB) Teams Up with PhonePe to Champion UPI Transactions for Indian Visitors
New Delhi: The Singapore Tourism Board (STB) and PhonePe have announced a significant two-year Memorandum of Understanding (MoU). During a formal signing ceremony on Wednesday, April 3rd, STB’s Chief Executive, Melissa Ow, and Ritesh Pai, Chief Executive Officer of International Payments Business at PhonePe, solidified the MoU. This strategic partnership capitalizes on the existing Unified Payments Interface (UPI) connection between India and Singapore, enabling customers to seamlessly conduct cross-border transactions directly from their Indian bank accounts.
As part of this collaboration, STB and PhonePe will jointly invest in targeted marketing initiatives across India and Singapore, aiming to showcase the destination’s vibrant offerings and promote the seamless UPI experience at key tourism attractions.
This milestone marks the first-of-its-kind collaboration between a destination and a UPI payments platform, demonstrating the shared commitment of STB and PhonePe to enhancing the travel experience in Singapore. By providing familiar services such as UPI payments, travellers can fully immerse themselves in Singapore’s dynamic urban landscape, renowned for its iconic landmarks and culturally rich precincts. This initiative will facilitate effortless exploration of Singapore’s diverse attractions, including exceptional retail, culinary experiences, and thrilling adventures, which have long captivated Indian tourists.
Melissa Ow, Chief Executive, Singapore Tourism Board, said: “We are excited to announce our alliance with PhonePe, a leading Fintech player in India. This partnership exemplifies our dedication to enhancing the Singapore visitor experience for discerning, tech-savvy consumers. By seamlessly integrating Singapore’s exceptional offerings into the digital realm, our goal is to streamline payments across the traveller’s experience and promote curated deals, from attractions and retail to dining and nightlife. This initiative reflects STB’s commitment to innovation and customer-centricity in the travel industry.”
Ritesh Pai, Chief Executive Officer, PhonePe, International Business for PhonePe Private Limited, said: “Singapore is a dynamic destination with unique offerings that are well appreciated and celebrated among Indian travellers. Partnering with STB will facilitate ease of transactions for PhonePe users who now can just pay directly from their existing bank account by scanning a QR code when visiting the island-city.”
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