PhonePe has announced its partnership with Liquid Group, a key player in digital cross-border payments, to broaden its merchant acceptance network in Singapore.
This collaboration aims to provide Indian travelers a seamless payment experience at Liquid Group’s vast merchant base in Singapore, a favored destination for Indian tourists.
QR Code Payments at Key Locations
Travelers can now easily make payments using the PhonePe app by scanning QR codes at various tourist spots.
These codes will be accessible at prominent locations such as Changi Airport, duty-free shops, restaurants, bars, and popular retailers like The Cocoa Trees, Charles & Keith, Luvenus Jewellery, and Hard Rock Café.
Additionally, the QR codes will be available at sightseeing spots and transportation services, ensuring convenience across the city.
Integration with UPI
The partnership, facilitated by Liquid Group’s collaboration with NPCI International Payments Limited (NIPL), enables merchants to accept UPI payments.
PhonePe users can scan the merchant-displayed QR codes and complete transactions in Indian Rupees (INR), ensuring transparency and simplicity in the payment process.
Additional Features for International Payments
PhonePe has rolled out additional features for international use cases earlier in 2024, enhancing its UPI-based capabilities. These include:
1. International Remittances: PhonePe users can receive money internationally through the PayNow-UPI real-time remittance corridor. This feature simplifies and speeds up the money transfer process by leveraging the UPI infrastructure, removing the need for customers to provide bank account details or IFSC codes.
2. NRI Payments: Non-resident Indians (NRIs) in Singapore can link their NRE/NRO bank accounts to the PhonePe app, allowing them to make payments for various services in India. This includes utility bill payments, fund transfers to friends and family in India, and merchant payments on e-commerce platforms or at physical stores.
Positive Response to New Features
Since the launch of these UPI-based international features earlier in 2024, PhonePe has observed a positive response from users, reflecting a growing acceptance of these new capabilities for both cross-border payments and remittances.
Speaking about the partnership, Ritesh Pai, CEO of International Payments at PhonePe, said,
We are excited to collaborate with Liquid Group to bring the ease of UPI payments to Indian travelers in Singapore. As a popular destination among Indian tourists, we’re delighted to offer them a simple and quick way to pay at their favorite dining, shopping, and sightseeing locations, enhancing their overall travel experience.
Commenting on the partnership,, Alvin Seck, CCO of Liquid Group, said,
We are pleased to collaborate with PhonePe to improve the payment experience for Indian travelers in Singapore. By integrating UPI into our broad merchant network, we are simplifying transactions and strengthening our commitment to seamless cross-border payment solutions. This partnership supports our aim of making global payments more efficient and accessible for both consumers and businesses.