The Singapore Tourism Board (STB) has entered into a two-year strategic partnership with Indian digital payments company PhonePe in a bid to boost the convenience of Indian travellers.
This collaboration builds upon the existing Unified Payments Interface (UPI) linkage between India and Singapore, which went live in February 2023, reported Fintech Singapore.
The partnership, the first of its kind between a national tourism board and a UPI payment platform, will enable Indian tourists to conduct seamless cross-border payments directly from their Indian bank accounts.
PhonePe is an Indian digital payments and financial services company headquartered in Bengaluru. The PhonePe app is accessible in 11 Indian languages.
It enables users to perform various financial transactions such as sending and receiving money, recharging mobile and DTH services, topping up data cards, making utility payments and conducting in-store payments.
The two bodies will engage in joint marketing endeavors in both countries to showcase Singapore’s diverse cultural attractions and the convenience of using UPI payments.
Indian travelers will benefit significantly from this collaboration, as they can now use the PhonePe app for instant, seamless and secure transactions across more than 8,000 merchants in Singapore, reported The Times of India.
This development is aimed at enriching their travel experience in the Republic, making shopping, dining and exploring various attractions more accessible.
Chief executive of Singapore Tourism Board Melissa Ow said: “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.”
Mr Ritesh Pai, PhonePe’s chief executive officer, said: “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.”
