In a significant advancement for cross border digital payments, NPCI International Payments Limited has announced a strategic collaboration with Razorpay Curlec to introduce UPI based payment solutions in Malaysia. This partnership, unveiled at the Global Fintech Fest 2025, represents a major step forward in expanding India’s digital payment ecosystem beyond its borders.
Seamless Payment Experience for Indian Travelers
The collaboration will enable Indian tourists visiting Malaysia to utilize their existing UPI applications for making payments at local merchant establishments. This eliminates the traditional challenges associated with international travel, such as currency exchange hassles, carrying large amounts of cash, or dealing with foreign transaction fees on credit cards. Travelers can simply use familiar payment apps like Google Pay, PhonePe, or Paytam to complete transactions seamlessly.
Benefits for Malaysian Merchants
Malaysian businesses stand to gain considerably from this integration. Through Razorpay Curlec’s payment infrastructure, merchants will receive settlements directly in Malaysian ringgit, removing concerns about currency fluctuation risks or delayed payment conversions. This instant settlement capability ensures improved cash flow management while opening access to a lucrative customer segment. With over one million Indian tourists visiting Malaysia in 2024 and spending exceeding RM6 billion, this represents a substantial market opportunity for Malaysian retailers, hospitality providers, and service establishments.
Technological Infrastructure and Scale
The partnership leverages UPI’s robust technological framework, which currently processes billions of transactions monthly. This proven infrastructure ensures secure, reliable, and instantaneous payment processing, providing confidence to both consumers and merchants. The real time nature of these transactions means that payment confirmations are immediate, enhancing the overall customer experience.
Strategic Implications
This initiative aligns with NPCI International’s broader vision of establishing UPI as a globally accepted payment standard. Malaysia joins several other countries where UPI payments are already operational, including Singapore, UAE, Bhutan, and select locations in France. As digital payment adoption continues accelerating worldwide, such cross border integrations facilitate smoother international commerce and strengthen economic ties between nations.
The Malaysia India payment corridor represents a forward-thinking approach to modernizing financial transactions, benefiting travelers, merchants, and the broader fintech ecosystem through enhanced convenience, reduced costs, and improved efficiency.
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