The Singapore Tourism Board (STB) and PhonePe have entered a two-year
Memorandum of Understanding (MoU). At a signing ceremony held on the morning of
Wednesday, April 3rd, STB’s Chief Executive, Melissa Ow, and Ritesh Pai, Chief Executive Officer,
International Payments Business for PhonePe , formally signed the MoU. This collaboration
builds upon the existing Unified Payments Interface (UPI) linkage between India and Singapore,
which allows customers to instantly make cross border transaction between the two countries
directly from their existing Indian bank accounts.
As part of the partnership, STB and PhonePe will invest in joint marketing efforts across India
and Singapore, to promote the destination’s vibrant offerings and seamless UPI experiences
across key tourism hotspots.
This strategic milestone – the first of its kind between a destination and a UPI payments
platform – underscores the shared commitment of STB and PhonePe to add value to the overall
experience of travellers exploring the vibrant city of Singapore by making it possible for them to
use familiar services like UPI payments during their stay. As one of the most vibrant urban
destinations in the region, Singapore is well known for its iconic landmarks and rich heritage
precincts, each with its own charm. With a host of extraordinary retail, culinary, and adventure
hot spots that await every traveller, this move will further unlock seamless exploration of
Singapore’s diverse attractions and offerings that has attracted Indian travellers.
Melissa Ow, Chief Executive, Singapore Tourism Board, 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.”
Ritesh Pai, Chief Executive Officer, PhonePe, International Business for PhonePe Private
Limited, 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
