PhonePe Expands UPI Payments to Sri Lanka in Collaboration with LankaPay

PhonePe, a leading Indian fintech company, has partnered with LankaPay, Sri Lanka’s National Payment Network, to enable UPI (Unified Payments Interface) payments across LankaQR merchant points in Sri Lanka. This development, announced during a recent event, marks a new era of convenience for Indian tourists visiting Sri Lanka, allowing them to make payments seamlessly without the need for cash or currency conversion.

The integration is facilitated through LankaPay’s collaboration with NPCI International Payments Limited (NIPL), and it ensures that PhonePe users can now use their app to scan LankaQR codes and make payments directly in Indian Rupees (INR), with an immediate currency exchange rate conversion displayed. This initiative not only simplifies transactions for travelers but also strengthens digital payment infrastructure between the two countries.

Santosh Jha, the High Commissioner of India to Sri Lanka, emphasized the significance of the UPI launch, stating it is a crucial component of the broader digital partnership goals between India and Sri Lanka. He highlighted that India is also aiding Sri Lanka in developing its Unique Digital Identity Program and other digital infrastructure, which he believes will have transformative effects on both nations’ economic relations.

Ritesh Pai, CEO of International Payments at PhonePe, commented on the collaboration, saying, “This collaboration offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while traveling and pay across LankaQR merchant points.”

PhonePe, which launched its flagship digital payments app in August 2016, has rapidly grown to become India’s leading consumer payments app with over 535 million registered users and a network that includes more than 39 million merchants.

On the other side, LankaPay, overseen by the Central Bank of Sri Lanka since its inception in 2002, plays a pivotal role in the country’s financial ecosystem. The network introduced LankaQR in 2020, under the Central Bank’s guidance, and currently connects 19 local banks and finance companies, covering approximately 400,000 merchants across Sri Lanka.