UnionPay and LiquidPay tie-up to expand QR code payment acceptance in Singapore
- LiquidPay is expanding its interoperability platform to accept UnionPay QR payments; UnionPay QR app users will soon be accepted at LiquidPay’s network of merchants
- Pilot to start with hawker centres, with island-wide acceptance at other merchants expected by third quarter of 2018
Singapore, 7 June 2018 – Homegrown payments technology company, Liquid Group (the “Group”), has partnered UnionPay International (“UPI”) to enable consumers using UPI banks’ mobile QR payment apps to pay at the Group’s network of merchants.
The partnership will see the two parties piloting the service at hawker centres currently already on the LiquidPay app, while full rollout to the Group’s other merchants is expected to complete by the third quarter of this year.
Jeremy Tan, CEO of Liquid Group, said, “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.”
The LiquidPay QR code is currently being consolidated into the nationwide SG QR standard that is being adopted and deployed by payment service providers in Singapore through 2018. Liquid Group is a member of the SQ QR taskforce.
About Liquid Group
Liquid Group is a payments technology company that operates LiquidNet, an interoperable payment network connecting payment QR apps with merchant acquirers. The Group also operates LiquidPay, an integrated mobile payment app that utilises QR code for payment and delivers hyper-personalised offers from merchants to customers based on consumer payment activity.
Liquid Group also provides merchants with tools to gain consumer insights, drive customer acquisition and improve their marketing reach, and works with financial institutions and telecommunications organisations to enhance their mobile payment capabilities.
Founded in 2015, and headquartered in Singapore, Liquid Group is a subsidiary of Korvac Holdings Pte Ltd., an investment holding and management company specialising in payments technology.