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QR payments enabled between Indonesia, Malaysia, and Thailand

Thursday 3 February 2022 14:27 CET | News

The central banks of Malaysia, Thailand, and Indonesia have enabled cross-border QR payments between these countries, as of the end of January 2022.

Payments Network Malaysia Sdn Bhd (PayNet) mentioned the QR payments represent a convenient and instant type of payment people can use with just their mobile phones. The linkage will allow Malaysian travellers to tap into their e-wallet mobile app or bank to make safe and secure QR payments when visiting Thailand and Indonesia, which makes the countries among the first ASEAN ones to implement cross-border QR APMs (alternative payment methods).

The Malaysia-Indonesia linkage will be made via different banks and digital wallets, including Bank Central Asia, Bank Indonesia, Bank Permata, ShopeePay, LinkAja, and DANA.

As the authorities are expecting more cross-border travellers within Asia in the third year of the pandemic, central banks and online payment platforms are expected higher e-payment adoption between the three countries, especially with competitive exchange rates for cross-border purchases. 

Source: Link


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Keywords: central bank, partnership, cross-border payments, QR code, QR payments, e-wallet
Categories: Payments & Commerce
Companies:
Countries: Indonesia, Malaysia, Thailand
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