In a significant move to enhance the payment experience for Indian tourists, PhonePe has announced a partnership with Liquid Group, a leading player in the digital cross-border payments space. This collaborations aims to expand PhonePe’s merchant acceptance network across Singapore, a preferred destination for Indian travellers.
Through this strategic partnership, PhonePe users will now be able to make payments easily by scanning QR codes with their app at various tourist hotspots throughout Singapore, as per reports.
These QR codes will be prominently placed at several key locations, including Changi Airport, duty-free shops, popular dining venues, bars, and retail outlets such as The Cocoa Trees, Charles & Keith, Luvenus Jewellery, and Hard Rock Café.
In addition to shopping and dining, the QR codes will also be accessible at major sightseeing locations and transportation services, facilitating a convenient and seamless payment experience across the city. This availability ensures that Indian tourists can enjoy their travel without worrying about currency exchanges or carrying multiple forms of payment.
The integration of Unified Payments Interface (UPI) is facilitated by Liquid Group’s partnership with NCPI International Payments Limited (NIPL). This integration allows the merchants across Singapore to accept payments directly via UPI, enabling transactions in Indian Rupees (INR). This feature not only simplifies the payment process for travellers but also provides transparency in currency conversion rates.
Another standout feature is the ability for PhonePe users to receive money internationally via the PayNow-UPI real-time remittance corridor. This facility not only simplifies the money transfer process but also accelerates it by utilizing the UPI infrastructure, eliminating the need for recipients to share detailed bank information.