PhonePe and Liquid Group announced a partnership to enable seamless UPI payments for Indian tourists in Singapore, allowing easy transactions at key tourist locations and retailers. Liquid Group, a prominent fintech company specializing in digital cross-border payment solutions, aims to expand its merchant acceptance network in Singapore.
These QR codes will be available at key tourist locations, such as Changi Airport, duty-free outlets, restaurants, bars, and retailers including The Cocoa Trees, Charles & Keith, Luvenus Jewellery, and Hard Rock Café. Additionally, they will be accessible at sightseeing spots and for various transportation services. This initiative is made possible through Liquid Group’s collaboration with NPCI International Payments Limited (NIPL), allowing Liquid Group’s merchants to accept UPI payments, making it convenient for Indian visitors to pay using their UPI app. PhonePe users simply need to scan the merchant’s displayed QR code to complete transactions, which will be processed in Indian Rupees (INR) for transparency and ease.
Beyond payments during travel, PhonePe users can also benefit from additional features. Users can receive international remittances via UPI through the PayNow-UPI corridor, streamlining money transfers by using UPI’s infrastructure. This eliminates the need for sharing detailed bank information like account numbers or IFSC codes. Also non-resident Indians (NRIs) in Singapore can link their NRE/NRO accounts to make payments for various services in India. This includes utility bills, transferring money to family and friends, and paying for purchases both online and in physical stores. These international UPI-based features, introduced earlier in 2024, have been well-received, with growing adoption in recent months.
Speaking on the partnership, Ritesh Pai, CEO of International Payments at PhonePe said, “We’re thrilled to partner with Liquid Group to bring the convenience of UPI payments to Indian travelers visiting Singapore. This popular destination is a favorite among Indian tourists, and we’re excited to empower them to pay quickly and easily at their favorite food, shopping, and sightseeing spots making their travel experience even more enjoyable”.
“We are excited to join forces with PhonePe to enhance the payment experience for Indian travelers in Singapore. By integrating UPI into our extensive merchant network, we are not only simplifying transactions but also reinforcing our commitment to providing seamless, cross-border payment solutions. This partnership aligns perfectly with our goal of making global payments more accessible and efficient for consumers and businesses alike”, said Alvin Seck, CCO of Liquid Group .