UnionPay. LiquidPay tie-up to expand QR code payment acceptance in Singapore

Singapore payments technology company Liquid Group has partnered UnionPay International (UPI) to enable consumers using UPI banks’ mobile QR payment apps to pay at the group’s network of merchants.

The partnership will see the two parties piloting the service at hawker centres currently already on the LiquidPay app, while full rollout to the group’s other merchants is expected to complete by the third quarter of this year.

Jeremy Tan, CEO of Liquid Group, said: “Interoperability and universal acceptance are critical components towards enabling and progressing Singapore to truly become a cashless society. This partnership enables over 60 million international and local UnionPay QR app users to pay on our network of merchants.”

The LiquidPay QR code is currently being consolidated into the nationwide SG QR standard that is being adopted and deployed by payment service providers in Singapore through 2018, the company said.

Liquid Group, which operates LiquidPay and LiquidNet, is a member of the SQ QR taskforce. Founded in 2015, and headquartered in Singapore, the group is a subsidiary of Korvac Holdings, an investment holding and management company specialising in payments technology.

By Muneerah Bee