The Singapore Tourism Board (STB) and Bengaluru-based fintech firm PhonePe have entered into a two-year strategic partnership to promote the Unified Payments Interface (UPI) for Indians travelling in Singapore.
Under this collaboration, Indian travellers can now use the PhonePe app for instant payments across over 8,000 merchants in Singapore.
The pact builds upon the existing UPI linkage between India and Singapore, which allows customers to instantly make cross-border transactions between the two countries directly from their existing Indian bank accounts, according to a joint statement issued by the companies.
As part of the partnership, STB and PhonePe would invest in joint marketing efforts across India and Singapore, to promote the destination’s vibrant offerings and seamless UPI experiences across key tourism hotspots.
Melissa Ow, Chief Executive, Singapore Tourism Board, said the partnership exemplified STB’s dedication to enhancing the Singapore visitor experience for discerning, tech-savvy consumers, and commitment to innovation and customer-centricity in the travel industry.
‘’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,’‘ she added.
Ritesh Pai, Chief Executive Officer, PhonePe, International Business for PhonePe Private Limited, said that partnering with STB would 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.
