Singapore Tourism Board and PhonePe join hands to promote UPI payments in Singapore

By TIN Media | Singapore News Published 1 month ago on 8 April 2024
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In a significant development, the Singapore Tourism Board (STB) and PhonePe have inked a two-year Memorandum of Understanding (MoU), marking a milestone collaboration aimed at elevating the travel experience for visitors to Singapore. The MoU was formally signed at a ceremony on Wednesday, April 3rd, with STB’s Chief Executive, Melissa Ow, and Ritesh Pai, Chief Executive Officer of International Payments Business for PhonePe, leading the signing.

This partnership capitalizes on the existing Unified Payments Interface (UPI) linkage between India and Singapore, enabling seamless cross-border transactions directly from Indian bank accounts. Under the agreement, STB and PhonePe will jointly invest in marketing initiatives across both India and Singapore, spotlighting the diverse attractions and effortless UPI experiences available at key tourism hubs.

This strategic alliance, the first of its kind between a destination and a UPI payments platform, underscores the mutual commitment of STB and PhonePe to enhance the overall traveler experience in Singapore. With its iconic landmarks, rich heritage precincts, and vibrant urban culture, Singapore is a magnet for Indian tourists seeking unique experiences. The collaboration aims to integrate familiar services like UPI payments seamlessly into travelers’ itineraries, unlocking a hassle-free exploration of the city-state’s myriad offerings.

Melissa Ow, Chief Executive of the Singapore Tourism Board, expressed enthusiasm about the partnership, emphasizing its role in catering to tech-savvy consumers and streamlining payments across the travel journey. She highlighted STB’s dedication to innovation and customer-centricity in the travel industry, aiming to curate deals and enhance the digital integration of Singapore’s attractions.

Ritesh Pai, Chief Executive Officer of PhonePe‘s International Business, noted Singapore’s appeal among Indian travelers and emphasized the convenience of direct payments through existing bank accounts via QR code scanning. The partnership seeks to simplify transactions for PhonePe users, aligning with the company’s commitment to enhancing the digital payment experience for its customers.


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