Indian payments company Pine Labs said on October 22 it has partnered with Sri Lanka’s WEBXPAY so Sri Lankan merchants can accept UPI, UPI AutoPay, cards and net banking across more than 100 Indian banks, as well as EMI conversions and credit on UPI. The companies call it Sri Lanka’s first payment aggregator-to-payment aggregator tie-up under the RBI’s Payment Aggregator–Cross Border (PA-CB) framework, with T+1 settlement and plans to extend the model to Southeast Asia.
Why it matters: India is Sri Lanka’s largest source of tourists, with more than 530,000 Indian visitors in 2025, so accepting the payment methods those travellers already use addresses a clear gap at checkout. The PA-on-PA model also shows how the RBI’s cross-border framework lets Indian aggregators export UPI acceptance through local partners instead of seeking licences market by market.
Source: ETBFSI (The Economic Times), October 22, 2026
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Image: Sergei Gussev, CC BY 2.0, via Wikimedia Commons
