-KH News Desk (editorial1@imaws.org)
In a significant stride toward globalizing India’s flagship Unified Payments Interface (UPI) system, Indian travelers can now or will soon be able to make instant, secure, and hassle-free payments in both Singapore and Malaysia. These collaborations, led by NPCI International Payments Limited (NIPL), expand UPI’s reach across Southeast Asia, offering cost-effective alternatives to international cards and currency exchange.
Malaysia: UPI Access Through Razorpay Curlec
Indian tourists will soon be able to make UPI payments across Malaysia through a collaboration between Razorpay’s Malaysian entity, Curlec, and NIPL. This integration, formalized at the Global Fintech Fest 2025, marks a major milestone, allowing millions of Indian tourists to pay local businesses using their preferred UPI apps instantly.
- Key Benefit: Travelers can avoid the need for international cards and the hassle and cost associated with currency exchange.
- Merchant Settlement: Malaysian merchants will be able to accept payments via Razorpay Curlec’s platform, with settlements made directly in the local currency (Ringgit – RM).
- Context: This move addresses the growing need for simple, cashless solutions, especially considering the spending of over ₹110 billion by more than one million Indian tourists in Malaysia in 2024.
Singapore: Live UPI Payments via HitPay
UPI transactions are already accepted in Singapore, thanks to a partnership between NIPL and HitPay, a Singapore-based full-stack payments provider. This collaboration expands UPI acceptance across more than 12,000 merchants, including retail outlets, restaurants, and tourist attractions.
- How it Works: Indian travelers can use their UPI-linked bank accounts or digital payment apps (such as PhonePe, Google Pay, Paytm, or BHIM UPI) to make payments.
- The Process: To pay, the traveler must ensure their UPI app supports international transactions, then simply scan the merchant’s displayed QR code, enter the amount, and authenticate the payment using their UPI PIN.
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Benefits: The system ensures hassle-free, cost-effective payments by eliminating high Foreign Exchange (forex) costs and the necessity of carrying physical local currency.
