Indian Tourists Abroad To Benefit As 12,000 Singapore Merchants Begin Accepting UPI Payments

In a major push to expand the Unified Payments Interface (UPI) internationally, nearly 12,000 merchants in Singapore are set to accept UPI payments, reported The Economic Times.

The move follows a partnership between NPCI International Payments Limited (NIPL), the global arm of India's National Payments Corporation of India (NPCI), and HitPay, a Singapore-based payments infrastructure provider.

With over 1.2 million Indian tourists expected to visit Singapore in 2024, the initiative aims to provide a hassle-free, QR code-based payment experience across tourist destinations, retail outlets, restaurants, and other businesses.

"We are committed to expanding UPI's global footprint to simplify transactions for Indians abroad," Ritesh Shukla, CEO of NIPL was quoted as saying by The Economic Times.

He emphasised that the partnership with HitPay would enhance UPI’s acceptance in Singapore, offering Indian travellers a secure and cost-effective digital payment option.

The Singapore expansion follows NIPL’s recent global partnerships to promote UPI adoption.

UAE: In January 2024, NIPL partnered with Magnati, enabling UPI payments at POS terminals across the Middle East, catering to the 12 million Indians who visit the UAE and Dubai annually.

Caribbean: In September 2023, NIPL collaborated with the Ministry of Digital Transformation of Trinidad and Tobago, making it the first Caribbean nation to develop a real-time payment system modelled on UPI.