You can use PhonePe on your next trip to Sri Lanka

Indian fintech giant, PhonePe, has launched its Unified Payments Interface (UPI) services in Sri Lanka, marking a significant milestone in cross-border fintech connectivity. The launch event was attended by Central Bank of Sri Lanka Governor Nandalal Weerasinghe and India's High Commissioner to Sri Lanka Santosh Jha.

An Indian visitor using PhonePe to make a UPI payment in Sri Lanka will see the currency exchange rate shown and the amount debited in Indian rupees, or INR.

The Indian High Commission in Sri Lanka celebrated the launch on social media, stating, "Unlocking new frontiers in fintech connectivity! @PhonePe UPI payments go live in Sri Lanka with HC @santjha & @CBSL Governor Dr. Nandalal Weerasinghe gracing the launch event. Giving a boost to @UPI_NPCI services, the launch will further strengthen ease for tourists in Sri Lanka."


On May 15, PhonePe announced its collaboration with LankaPay to enable UPI payment acceptance across Sri Lanka. This partnership allows PhonePe users visiting Sri Lanka to make payments using UPI at merchants displaying the LankaPayQR code, facilitating secure and quick transactions without the need for cash or currency conversions.

Earlier this year, in February, UPI was launched in Sri Lanka and Mauritius during a virtual event attended by Indian Prime Minister Narendra Modi, Mauritius Prime Minister Pravind Jugnauth, and Sri Lankan President Ranil Wickremesinghe. This event underscored India's commitment to sharing its fintech innovations and digital infrastructure with partner countries.

Prime Minister Modi, addressing the occasion via video conference, emphasized the importance of fintech connectivity for the three countries. "Today is a special day for three friendly countries in the Indian Ocean region. We are connecting our historical relations in a modern digital way. This is proof of our commitment to the development of our people," he stated.

Modi highlighted that fintech connectivity would enhance not just cross-border transactions but also interpersonal connections. "India's UPI is now playing the role of 'Uniting Partners with India'," he added. He noted that Digital Public Infrastructure like UPI has revolutionized transactions even in India's smallest villages due to its convenience and speed.

In 2023 alone, UPI facilitated a record 100 billion transactions valued at Rs 2 trillion. Modi pointed out that "Digital Public Infrastructure has brought about a revolutionary change in India. Even the smallest businessman in our smallest village is making digital payments because it has convenience as well as speed."

UPI is a mobile-based fast payment system from India that enables customers to make round-the-clock payments instantly using a Virtual Payment Address (VPA) created by the customer. With its expansion into Sri Lanka, PhonePe aims to simplify digital transactions for Indian tourists and foster greater financial integration between the two nations.