India and Malaysia Launch Cross-Border QR Payments to Strengthen Digital Ties

In a major step toward regional fintech integration, NPCI International Payments Limited (NIPL) and Payments Network Malaysia (PayNet) have signed an agreement to enable cross-border QR payments between India and Malaysia.

Key Highlights:

• Two-Phase Implementation:
• Phase 1: Indian travelers in Malaysia can use UPI-enabled apps to pay at DuitNow QR merchants (over 2.9 million outlets).
• Phase 2: Malaysians visiting India will be able to scan UPI QR codes at millions of Indian merchant locations.
• Tourism & Trade Impact: The initiative will simplify payments for travelers, reduce dependence on cash or forex cards, and support bilateral commerce.
• Digital Cooperation: India and Malaysia have also launched the Malaysia–India Digital Council (MIDC) to expand collaboration in fintech, semiconductors, and digital infrastructure.
• Financial Inclusion: The partnership enhances secure, cost-effective digital transactions, aligning with both countries’ goals of expanding financial accessibility.

This collaboration positions India and Malaysia as leaders in cross-border digital payments, reinforcing their role in shaping the future of fintech across Asia.

Sources: NPCI International, PayNet, Moneycontrol