Skip to content
Free updates Login
SSCBankingNABARD / RBI

UPI QR in Singapore: NIPL and FOMO Pay Tie-Up

12 September 20261 min read
BANKING & FINANCEUPI QR inSingapore: NIPLand FOMO PayTie-Up12 September 2026safalsetu.com

Why in the news

NPCI International Payments Limited has joined hands with the Singapore firm FOMO Pay so that UPI QR payments can be accepted by merchants in Singapore.

Key facts

  • Partners: NIPL (NPCI International Payments Limited) and FOMO Pay.
  • Service: UPI QR acceptance in Singapore.
  • Traveller side: payment in Indian Rupees via UPI apps.
  • Merchant side: settlement in Singapore Dollars.
  • Early merchant: Resorts World Sentosa.

Significance

The arrangement supports seamless cross-border payments for tourists and merchants alike.

Exam angle

  • NIPL is the international arm of NPCI, as its name indicates.
  • Currency pairing: rupee payment, Singapore Dollar settlement.
  • Payment mode: UPI QR.

Test yourself

1. Which Singapore-based firm partnered with NIPL to enable UPI QR payments?

NIPL partnered with FOMO Pay.

2. In which currency do Singapore merchants receive settlement under the NIPL-FOMO Pay arrangement?

Merchants are settled in Singapore Dollars.

3. Which merchant is among the first partners in Singapore under the UPI QR initiative?

Resorts World Sentosa is among the first merchant partners.

This topic is part of Daily Current Affairs 11 September 2026 (19 topics).

All topics of the dayDay quizSeptember 2026

Read more