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PhonePe and the Singapore Tourism Board (STB)
PhonePe has inked a two-year Memorandum of Understanding (MoU) with the Singapore Tourism Board (STB). This collaboration is aimed at utilizing the existing Unified Payments Interface (UPI) linkage between India and Singapore and redefining the tourism experience for Indian visitors by enabling travellers to make cross-border transactions directly from their Indian bank accounts.
The MoU was signed by Melissa Ow, Chief Executive of the Singapore Tourism Board, and Ritesh Pai, Chief Executive Officer of PhonePe's International Payments Business. This MoU aims to solidify a partnership toward enhancing the visitors' experience through seamless payment solutions.
“We are excited to announce our alliance with PhonePe, a leading Fintech player in India. This partnership exemplifies our dedication to enhancing the Singapore visitor experience for discerning, tech-savvy consumers. 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. This initiative reflects STB’s commitment to innovation and customer-centricity in the travel industry”, said Melissa Ow, Chief Executive, of the Singapore Tourism Board.
“Singapore is a dynamic destination with unique offerings that are well appreciated and celebrated among Indian travellers. Partnering with STB will 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”, said Ritesh Pai, Chief Executive Officer, PhonePe, International Business for PhonePe Private Limited.
This collaboration marks a significant step for both the Singapore Tourism Board and PhonePe. It is a first-of-its-kind partnership between a destination and a UPI payments platform. The partnership aims to enhance the overall experience for Indian travellers in Singapore by the seamless integration of PhonePe's services.
In addition to promoting UPI payments, the partnership between STB and Phonepe will also work on joint marketing efforts that are aimed at showcasing Singapore's vibrant offerings to Indian travellers.
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