NPCI International Payments Ltd (NIPL), the international arm of National Payment Corporation of India, has partnered with Liquid Group Pte. Ltd. (Liquid Group), a leading cross border digital payments provider, to enable UPI QR-based payments acceptance in 10 markets across North Asia and Southeast Asia.
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| Liquid Group to power NPC's UPI QR acceptance in 10 Asian Markets |
Unified Payments Interface (UPI) is an instant real-time payment (RTP) system, allowing users to transfer money on a real-time basis, across multiple bank accounts without revealing details of one’s bank account to the other party. UPI is amongst the most successful 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 USD 457 Billion, which is equivalent to approximately 15% of India’s GDP.
About NPCI International:
- NPCI International Payments Limited (NIPL) was incorporated on April 3, 2020, as a wholly-owned subsidiary of National Payments Corporation of India (NPCI).
- As the international arm of NPCI, NIPL is devoted to the deployment of NPCI’s indigenous, successful Real-Time Payment System – Unified Payments Interface (UPI) and Card Scheme – RuPay, outside of India.
- NPCI has successfully developed and proved its product and technological capabilities in the domestic market by transforming payment segment in India. Conversely, several countries want to establish a ‘real-time payment system’ or ‘domestic card scheme’ in their own country.
- NIPL, with its knowledge and experience, can offer these countries technological assistance through licensing, consulting for building real-time payment system to meet the rapidly evolving need of fast-growing global businesses.
- NIPL is focused on transforming payments across the globe with the use of technology and innovation. It will not only enable payment for Indians but also uplift other countries by enhancing their payment capabilities through technological assistance, consulting, and infrastructure.
