Quick Answer: Singapore merchants can accept UPI payments from Indian tourists and expats through HitPay, a MAS-licensed payment gateway (PS20200643). UPI is available as a cross-border payment method — customers scan a QR code using any UPI-enabled app, and funds settle in SGD next business day. HitPay charges no monthly fees and can be approved within 1–3 business days.

India is one of Singapore’s largest tourism source markets. In 2023, Singapore welcomed over 1.4 million Indian visitor arrivals — a segment that travels frequently, spends above average, and overwhelmingly prefers UPI, India’s real-time payment network, for everyday transactions. For retail and F&B businesses on Orchard Road, in Bugis, or around Little India, not accepting UPI means friction at the point of sale — and lost revenue.

Accepting UPI in Singapore is now operationally straightforward. The method works as a cross-border QR payment: a customer opens any UPI-compatible app (GPay, PhonePe, Paytm, and others), scans a merchant QR code, and completes payment in Indian Rupees. The merchant receives SGD. No currency conversion is required at the point of sale.

Why Should Singapore Businesses Accept UPI?

India’s digital payments infrastructure has grown faster than almost any market globally. Visa’s economic empowerment research highlights that digital payment adoption across Asia-Pacific continues to accelerate, with mobile wallet usage outpacing card growth in several corridors — including the India–Singapore route.

For a retail store in Tanjong Pagar or a tour operator in Jurong East, the practical case is simple: Indian visitors already have UPI apps installed and funded. Asking them to pay by card or cash adds unnecessary steps. Displaying a UPI-compatible QR code removes that barrier entirely.

UPI acceptance is also a signal to Indian corporate travellers and Singapore-based Indian expats — a community of roughly 650,000 permanent residents and Employment Pass holders — that a business is set up for how they actually pay.

How Does UPI Work as a Cross-Border Payment Method in Singapore?

UPI operates cross-border in Singapore through an interoperability agreement between NPCI International (the body that manages UPI globally) and participating Singapore payment processors.

Here is how a transaction flows:

1. The merchant displays a UPI-enabled QR code — static or dynamic — at the point of sale or on an invoice.

2. The customer opens a UPI app and scans the QR code.

3. The customer authorises payment in INR from their Indian bank account.

4. The processor converts the amount to SGD at the prevailing exchange rate.

5. The merchant receives SGD settlement next business day.

The customer pays in INR. The merchant collects in SGD. No foreign exchange account or separate currency wallet is required.

How Do Merchants Set Up UPI Acceptance in Singapore?

HitPay supports UPI as a cross-border payment method for Singapore merchants. The setup process does not require a separate contract or bank relationship.

1. Create a HitPay account at hitpayapp.com — free to sign up, no setup fee.

2. Submit business verification documents. Approval typically takes 1–3 business days.

3. In the dashboard, enable UPI under cross-border payment methods.

4. Partner providers process UPI activation within 3–5 business days after submission.

5. Generate a static QR code for in-store display, or use dynamic QR codes per transaction for online or invoice-based sales.

6. Display the QR code at checkout — physically at the counter or embedded in a payment link.

For online stores, HitPay’s payment links and checkout integrations support UPI alongside PayNow, GrabPay, ShopeePay, Atome, cards, and other Singapore-market methods. A single checkout page can present all supported methods simultaneously — reducing the need to manage separate QR codes or systems. Merchants looking at the full picture of online payment methods in Singapore will find UPI slots naturally alongside domestic options.

For in-person retail, a static QR code printed and displayed at the counter is sufficient for most use cases. The QR code payments guide covers how static and dynamic QR codes differ and when each is appropriate.

What Are the Fees and Payout Timings for UPI in Singapore?

HitPay charges no monthly fee and no setup fee. Transaction fees for UPI follow the cross-border rate — see hitpayapp.com/pricing for the current rate. There are no hidden conversion fees charged to the merchant; the exchange rate is applied at the point of transaction.

Payout timing for UPI transactions is next business day in SGD, consistent with other cross-border methods on HitPay in Singapore. Domestic Singapore methods — PayNow, GrabPay, cards — settle next business day in SGD.

HitPay is licensed by the Monetary Authority of Singapore (MAS) under licence number PS20200643, covering domestic money transfer and merchant payment acquisition. All cross-border payment processing, including UPI, operates within this regulatory framework.

Which Types of Singapore Businesses Benefit Most?

UPI acceptance delivers the clearest return for businesses with high Indian customer footfall:

• Retail and fashion in Mustafa Centre, Bugis Street, or Orchard Road

• F&B operators near Indian cultural districts or business hotels

• Tour operators and experience providers catering to inbound Indian tourists

• Professional services and clinics with Indian expat clientele

• E-commerce stores targeting the Indian diaspora in Singapore

For these businesses, UPI sits alongside PayNow (for local customers) and WeChat Pay (for Chinese tourists) as a core cross-border method. The strategic advantage of alternative payment methods in Southeast Asia is well documented — each additional method reduces checkout abandonment for a specific customer segment.

Practical Takeaway

Accepting UPI requires no hardware investment, no new bank account, and no monthly commitment. For any Singapore business with meaningful Indian tourist or expat traffic, enabling UPI through an existing HitPay account is a low-effort, high-relevance addition to the payment stack. Activation takes 3–5 business days after document submission.

Frequently Asked Questions