UPI Transactions: The collaboration is facilitated through Mashreq’s partnership with NPCI International Payments Limited (NIPL). Through this partnership Mashreq has enabled NEOPAY terminals to accept UPI Apps as a payment instrument allowing Indian travelers to conveniently use UPI for transactions.
New Delhi. Good news has emerged for people going to Dubai from India. Walmart Group’s digital payments firm said on Thursday (March 28) that PhonePe App users traveling to UAE will now be able to do UPI transactions through Mashreq’s NEOPAY.
Partnership with NEOPAY
The collaboration is facilitated through Mashreq’s partnership with NPCI International Payments Limited (NIPL). Through this partnership Mashreq has enabled NEOPAY terminals to accept UPI Apps as a payment instrument, allowing Indian travelers to conveniently use UPI for transactions.
How will the transaction take place?
The transaction will be facilitated by Unified Payment Interface (UPI). PhonePe has said that debit from the account will be in Indian Rupees, which will reflect the currency exchange rate. With this partnership, customers can now easily transact through UPI.
Remittance services will also start
Apart from facilitating travel and local transactions, PhonePe said the corridor will also be enabled for remittance services. The statement said the move will simplify the process of transferring money by leveraging UPI, eliminating the need for details such as bank account numbers and IFSC codes.
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