Question
Which Indian FinTech firm has launched cross-border UPI
payments service recently?Solution
PhonePe has launched a service that will allow the fintech firm’s Indian users traveling abroad to pay foreign merchants using Unified Payments Interface (UPI). It is the first Indian fintech app to launch the service. 'UPI international' supports merchant outlets in UAE, Singapore, Nepal and Bhutan that have a local QR (quick response) code. Users will be able to make direct payments in a foreign currency from their Indian bank, like they do with international debit cards. About PhonePE PhonePe was founded in December 2015 and it has emerged as India’s largest payments app. With 435 million registered users, one in four Indians are now on PhonePe. CEO: Sameer Nigam Headquarters: Maharashtra
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