Visa expands QR cross-border payments

The pilot program will begin in Singapore, with additional rollouts planned across the region next year. Through this initiative, Visa will enable users of popular digital wallet apps to scan QR codes at merchants both locally and internationally.

QR payment providers involved in the project include Lakala (Mainland China), Touch 'n Go Digital (Malaysia), FOMO Pay (Singapore), LINE Pay (Taiwan), VNPay, and Zalopay (Vietnam). These providers will integrate Visa’s payment network to allow seamless and secure payments for users. Visa is also working with Juspay, a payments technology company, to provide technical support for the initiative.

According to the company, the move aims to provide consumers with a consistent and secure payment experience across regions, which may increase adoption of QR payments. Expanding QR payment options could also reduce costs and simplify operations for merchants, particularly benefiting small and medium businesses.

The Visa Consumer Payment Attitudes Study highlights that while card payments remain the most preferred method in Southeast Asia, QR payments using digital wallets are rapidly growing, ranking as the second-most preferred option.

The company’s efforts in this space are seen as part of a broader commitment to enhancing financial inclusion and enabling lower-cost payment methods through its network.

Following the trends

Visa’s expansion of QR payment capabilities also aligns with the ongoing trend of digital payment adoption across Asia Pacific. By integrating QR payment systems with its global network, Visa aims to provide a more inclusive and connected payments ecosystem.

This initiative is expected to benefit both consumers, who will experience a more streamlined payment process while traveling, and merchants, who can access a broader customer base. As digital wallets continue to grow in popularity, Visa’s efforts to facilitate cross-border QR payments further strengthen its position in the evolving payments landscape.