PhonePe Launches UPI in Sri Lanka in Partnership with LankaPay

In a significant move, PhonePe has joined forces with LankaPay to introduce UPI payments in Sri Lanka. This collaboration allows PhonePe users to seamlessly utilize UPI for transactions across LankaPay QR merchants, providing them with familiarity and security while traveling. The partnership aims to enhance the payment experience for Indian tourists and business travelers in Sri Lanka, while also offering a cost-effective solution for merchants. The initiative received commendation from key figures including PhonePe’s CEO, Ritesh Pai, LankaPay CEO Channa de Silva, and Sri Lankan Central Bank Governor Nandalal Weerasinghe.

Key Highlights of the Collaboration

UPI Payments in Sri Lanka

PhonePe users can now make payments using UPI at LankaPay QR merchants, eliminating the need for cash and currency conversions.

Enhanced Convenience for Indian Tourists

The collaboration aims to offer unparalleled convenience to Indian tourists by providing a familiar and secure payment method during their stay in Sri Lanka.

Support from Key Figures

Notable figures such as Santosh Jha, the High Commissioner of India to Sri Lanka, emphasized the importance of digital partnerships between the two countries and the transformative potential of such initiatives.

Panel Discussion on Digital Payments

As part of the launch event, a panel discussion titled ‘The Future of Digital Payments in Sri Lanka: Opportunities for Sri Lankan Businesses’ was held. Key stakeholders from Sri Lanka’s banking, tourism, and business sectors deliberated on leveraging digital payment technologies to stay competitive in an evolving economic landscape. Participants included representatives from National Savings Bank, Hatton National Bank PLC, LOLC Finance PLC, and Dialog Finance PLC, among others.