PhonePe, Liquid Group tie up to expand UPI QR payment service in Singapore

Walmart group's fintech firm PhonePe on Tuesday said it has partnered with cross-border payment solutions provider Liquid Group to expand its merchant acceptance network in Singapore.

The collaboration will allow PhonePe users travelling to Singapore to scan and pay using the app at Liquid Group's merchant base.

"We are thrilled to partner with Liquid Group to bring the convenience of UPI payments to Indian travellers visiting Singapore. This popular destination is a favourite among Indian tourists, and we are excited to empower them to pay quickly and easily at their favourite food, shopping, and sightseeing spots making their travel experience even more enjoyable," Ritesh Pai, CEO of International Payments at PhonePe, said.

The QR codes will be widely available at tourist-centric locations, including Changi Airport, duty-free shops, restaurants, bars, retailers like The Cocoa Trees, Hard Rock caf, sightseeing spots, and transportation services, the statement said.

The collaboration is facilitated through Liquid Group's partnership with NPCI International Payments Limited (NIPL).

Through this partnership, Liquid Group has enabled its merchants to accept UPI as a payment method, making it convenient for Indian travellers to use their preferred UPI app for transactions.

"Transactions will be processed in Indian rupees," the statement said.

In addition to making payments to the Liquid group merchants during travel to Singapore, PhonePe users can receive international remittances through UPI via the PayNow-UPI real-time remittance corridor which eliminated the need for the customers to share details such as bank account numbers and IFSC codes.

"We are excited to join forces with PhonePe to enhance the payment experience for Indian travellers 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," Alvin Seck, CCO of Liquid Group, said.