UPI Update: There’s good news for Indian travellers heading to Dubai. Digital payments company for the Walmart Group said on Thursday, March 28 that users of the PhonePe App visiting the United Arab Emirates would now be able to conduct UPI transactions using Mashreq’s NEOPAY.
Mashreq’s Collaboration with NIPL
Mashreq’s cooperation with NPCI International Payments Limited (NIPL) makes the collaboration possible. Mashreq has made it possible for NEOPAY terminals to accept UPI Apps as a form of payment through this agreement, making it easier for Indian travellers to conduct transactions using UPI.
The Unified Payment Interface (UPI) will handle the transaction. According to PhonePe, the account will be debited in Indian Rupees, which will be adjusted for the current exchange rate. Customers can now simply transact over UPI thanks to this relationship.
Remittance Options Introduced by PhonePe
In addition to making travel and local transactions easier, PhonePe announced that remittance services will be available through the corridor. According to the statement, by using UPI, the move will streamline the money transfer procedure and do away with the requirement for information such bank account numbers and IFSC codes.
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