CFA Society Singapore
SINGAPORE (June 7): UnionPay International (UPI) bank members will soon be able to make Quick Response (QR) code payments at selected hawker centres, a solution developed by homegrown payments technology Liquid Group.
In a press release issued on Thursday, Liquid Group says it has partnered with UPI to enable consumers using UPI banks’ mobile QR payment apps to pay at the group’s network of merchants.
The partnership will see both parties pilot the service at hawker centres currently already on the Liquid Pay app, while the full rollout to the group’s other merchants is expected to complete by 3Q18.
This comes as the Liquid Pay QR code is currently being consolidated into Singapore’s unified SG QR standard, which is to be adopted and deployed by all payment service providers in the city state by 2018.
Liquid Pay is one of the seven consortium members alongside firms such as Mastercard and EZ-Link which have teamed up to enable interoperable QR payments in Singapore for both consumers and merchants.
“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,” says Jeremy Tan, CEO of Liquid Group.