NPCI International Payments (NIPL) has partnered with HitPay to expand Unified Payments Interface (UPI) acceptance across Singapore.

HitPay, a Singapore-based payments infrastructure firm, will enable QR code-based UPI transactions at retail stores, restaurants, tourist attractions, and more.

Over 1.2 million Indian travelers visited Singapore in 2024.

This partnership aims to provide them with a familiar and seamless payment experience, NPCI said.

UPI will roll out to more than 12,000 merchants across Singapore, helping businesses cater to Indian visitors with a frictionless payment option.

Ritesh Shukla, CEO of NPCI International, said, “We are committed to expanding UPI’s global reach to simplify transactions for Indians traveling abroad. This partnership with HitPay strengthens UPI acceptance in Singapore. It also aligns with our goal of building a globally connected payments ecosystem.”

Aditya Haripurkar, CEO and Co-Founder of HitPay, added, “UPI has revolutionised payments in India with its speed and simplicity. By integrating UPI into our platform, we help merchants in Singapore tap into one of the fastest-growing consumer markets in Asia.”

In a separate development, the government is reconsidering its exemption of UPI and RuPay card payments from the Merchant Discount Rate (MDR), a key revenue source for online payments.

Merchant Discount Rate (MDR) refers to the fee charged to a merchant by a bank or payment service provider for processing a customer’s card payment. It is typically a percentage of the transaction amount. Government’s move aims to create a level playing field with private card networks like Visa and Mastercard, which still charge MDR.

The MDR exemption on UPI payments and RuPay debit cards was introduced in January 2020 as part of efforts to promote digital payments and ease the financial burden on consumers.