UPI is poised to broaden its global presence, with nearly 12,000 merchants in Singapore gearing up to accept payments via the platform. This initiative follows an announcement from National International Payments Limited (NIPL), the global division of the National Payments Corporation of India (NPCI). NIPL has formed a partnership with HitPay, a Singapore-based comprehensive payments infrastructure provider, to enhance UPI acceptance across the nation.
The goal of this collaboration is to improve the payment experience for Indian tourists, as over 1.2 million Indians are expected to visit Singapore in 2024. The plan includes a gradual implementation of UPI acceptance among more than 12,000 merchants, allowing businesses to offer Indian customers a smooth payment experience both online and offline. With this partnership, Indian tourists will be able to use QR codes for payments at various venues, including tourist attractions, restaurants, and retail shops.
Commenting on the partnership, Ritesh Shukla, CEO of NPCI International said: “We are committed to expanding UPI’s global footprint to simplify transactions for Indians abroad. Our partnership with HitPay increases UPI’s acceptance in Singapore, offering Indians a reliable, affordable payment method while travelling. This collaboration underscores our dedication to creating a globally interconnected payments ecosystem.”
“UPI has revolutionised India’s payment system with unparalleled speed, simplicity, and scalability. This integration aligns with HitPay’s vision to be the trusted partner for merchants in Singapore, offering seamless access to some of Asia’s fastest-growing markets and beyond,” Aditya Haripurkar CEO and co-Founder of HitPay added.
In January, NIPL joined forces with Magnati, a prominent payment solutions provider in the Middle East, to facilitate UPI merchant payments via Magnati’s POS terminals in the UAE. This initiative provides over 12 million Indian tourists visiting Dubai and the UAE each year with convenient payment options. Previously, in September 2024, NIPL collaborated with the Ministry of Digital Transformation (MDT) of Trinidad and Tobago to create a real-time payments platform modeled after India’s UPI, marking the Caribbean’s first adoption of this system.
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