On May 15, PhonePe launched cross-border UPI payments in collaboration with Sri Lanka’s national payment network, LankaPay. This will enable quick payments without carrying cash or calculating currency conversions.

After facing its worst economic crisis two years ago, business seems to be picking up in Sri Lanka. The country has also become a new hotspot for Indian travellers and has emerged as an alternative to the Maldives after the political standoff. Indian digital payments company PhonePe is primed to make the most of the ramped-up footfall.

In conversation with Forbes India, Ritesh Pai, CEO of international payments at PhonePe, takes us through this new development, how it will work, PhonePe's success rate in other countries, and more.

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