Source: BL
Context:
The National Payments Corporation of India (NPCI) International Payments Ltd (NIPL) has partnered with Razorpay Curlec to enable Unified Payments Interface (UPI) transactions in Malaysia. The agreement was formalized during the Global Fintech Fest (GFF) 2025.
Key Highlights:
- Cross-Border UPI Expansion:
- Indian travellers visiting Malaysia can now make instant and secure payments to local merchants using UPI-enabled apps (such as PhonePe, Paytm, or Google Pay).
- Integration Partner: Razorpay Curlec, a Malaysian fintech firm, will act as the local acquiring partner, allowing seamless merchant acceptance across Malaysia.
- User Benefit:
- Eliminates the need for foreign currency or cash payments.
- Reduces foreign exchange conversion costs.
- Provides real-time payment convenience and better transparency for users.
About NPCI International Payments Ltd (NIPL):
- Subsidiary of: National Payments Corporation of India (NPCI)
- Established: 2020
- Objective: Internationalize India’s payment systems — UPI and RuPay — through global partnerships and interoperability initiatives.
