NPCI International Payments Partners with Razorpay Curlec to Enable UPI Transactions in Malaysia

NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India, has announced a strategic partnership with Razorpay Curlec to introduce UPI (Unified Payments Interface) payment capabilities in Malaysia. Formalized at the Global Fintech Fest 2025, this collaboration will allow Indian travelers visiting Malaysia to make instant, secure payments to local merchants via their preferred UPI-enabled applications. For Malaysian businesses, this integration opens access to a rapidly growing segment of Indian tourists who trust UPI, creating new revenue streams with minimal friction and supporting Malaysia’s digital economy. Ritesh Shukla, MD & CEO of NIPL, stated the aim is to expand UPI's global presence for easier digital payments abroad. Shashank Kumar, MD and co-founder of Razorpay, emphasized bringing UPI's innovation to Malaysia. Kevin Lee, CEO of Razorpay Curlec, noted the significance for both consumers and businesses. With over one million Indian tourists visiting Malaysia in 2024, this partnership is poised to boost digital payment adoption and frictionless commerce between the two nations. Impact: This partnership is expected to enhance the global acceptance of India's UPI payment system, indirectly benefiting Indian fintech companies and promoting India's digital infrastructure. It will make cross-border transactions more convenient for Indian travelers, potentially increasing spending and supporting economic ties. Impact Rating: 7/10 Difficult Terms: UPI (Unified Payments Interface): A real-time payment system developed by the National Payments Corporation of India (NPCI) that enables instant money transfers between bank accounts on mobile platforms. Fintech: Stands for Financial Technology. It refers to technology used to provide and improve financial services. Merchants: Individuals or businesses that accept payment for goods or services. Cross-border payment: A transaction that involves parties in different countries. Digital commerce: The buying and selling of goods and services using the internet and digital technologies.