admin PhonePe, the fintech arm of Walmart, has entered into a strategic partnership with cross-border payment solutions provider Liquid Group to expand its merchant acceptance network in Singapore. This collaboration aims to enhance the convenience of Indian travellers by allowing them to use PhonePe’s UPI-based platform for transactions at Liquid Group’s merchant locations across the city-state.
The partnership will enable PhonePe users visiting Singapore to scan and pay at popular tourist spots, including Changi Airport, duty-free shops, restaurants, bars, and well-known retail outlets like The Cocoa Trees and Hard Rock Café. This initiative aims to simplify the payment experience for Indian tourists by integrating UPI into Singapore’s merchant network, offering seamless, cashless transactions while travelling.
Expanding UPI Payment Network in Singapore
According to Ritesh Pai, CEO of International Payments at PhonePe, the collaboration with Liquid Group is intended to make UPI payments more accessible for Indian tourists in Singapore. He emphasised that Singapore is a popular destination for Indian travellers, and by providing UPI payment options at key tourist locations, PhonePe aims to make the travel experience more convenient and enjoyable. This partnership will enable tourists to make payments easily while shopping, dining, or sightseeing, enhancing their overall experience in the country.
Liquid Group has worked with NPCI International Payments Limited (NIPL) to integrate UPI as a payment method within its network of merchants, ensuring that Indian travellers can use their preferred UPI apps for smooth and efficient transactions across various locations.
Simplifying Cross-Border Payments and Remittances
In addition to supporting payments at Singapore-based merchants, PhonePe users will also benefit from receiving international remittances through the PayNow-UPI real-time remittance corridor. This integration eliminates the need for customers to provide traditional banking details, such as account numbers and IFSC codes, ensuring a streamlined and efficient process for cross-border money transfers between India and Singapore.
Alvin Seck, Chief Commercial Officer of Liquid Group, noted that this collaboration simplifies payment solutions for Indian travellers and strengthens their commitment to enhancing seamless cross-border financial services. He highlighted the importance of integrating UPI into their merchant network to meet the evolving needs of international tourists.
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