NIPL, Liquid Group ink pact

Hyderabad: NPCI International Payments Ltd (NIPL), an international arm of National Payments Corporation of India (NPCI), has partnered with Singapore based Liquid Group Pvt Ltd, a leading cross border digital payments provider, to enable Unified Payments Interface (UPI) QR-based payments acceptance in 10 markets across North Asia and Southeast Asia.

Ritesh Shukla, CEO of NIPL, said: "This strategic partnership with Liquid Group is a formidable step towards achieving our vision of taking our robust and popular payments solutions to global markets. This will enable UPI QR-based payment acceptance and scale-up in Asian markets."

Jeremy Tan, Founder and CEO, Liquid Group, adds: "In anticipation of the resumption of cross-border travel soon, we have been working with our merchant acquiring partners to prepare for the acceptance of contactless QR payments from overseas.

UPI has made exponential growth in India and we look forward to support its rapid expansion across the region."

UPI is amongst the most successful real-time payment (RTP) systems globally, providing simplicity, safety, and security in person to person (P2P) and person to merchant (P2M) transactions.

In 2020, UPI enabled commerce worth $457 Billion, which is equivalent to approximately 15 per cent of India's GDP.