<ul><li>PhonePe has launched a new service allowing its Indian users to pay foreign merchants using UPI while traveling abroad.</li><li>The "UPI international" service supports merchants in UAE, Singapore, Mauritius, Nepal, and Bhutan with local QR codes.</li><li>PhonePe raised $350 million in funding from General Atlantic, making it India's most valued fintech firm.</li><li>The funding is expected to aid PhonePe's growth and competition with other fintech players such as Google Pay, Paytm, and Amazon Pay in India's fintech industry, predicted to be worth $350 billion by 2026.</li></ul>

PhonePe makes history as India's 1st fintech to allow UPI payments abroad

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