Liquid Group, a Singapore-based fintech focused on cross-border digital payments, has signed an MoU with TerraPay, a global payment infrastructure provider.
The agreement outlines a joint effort to explore interoperability between RoamQR™, Liquid Group’s interoperable QR payment network, and TerraPay’s global payments ecosystem. The initiative is intended to advance QR-based payment acceptance for consumers and merchants across Africa, Asia, and additional high-growth regions.
The collaboration centres on enabling a standards-based interoperability framework that connects national and regional payment systems. By aligning their respective infrastructures, both organisations aim to support real-time QR transactions, improve settlement efficiency, and broaden access to digital financial services for both consumers and merchants.
The growing popularity of QR payments
Under the MoU, Liquid Group and TerraPay will assess technical integrations that could form a secure and scalable bridge between multiple payment ecosystems. RoamQR™ currently provides a common QR format designed to link wallet providers, merchant acquirers, and domestic QR networks. TerraPay’s global infrastructure supports transaction processing in more than 100 markets, enabling compliant and secure money movement between financial institutions, mobile wallets, and acquirers worldwide. The alignment of these networks is intended to support open and inclusive cross-border QR payment capabilities.
Recent industry data underscores the significance of such interoperability initiatives. According to an analysis by Juniper Research, QR payment adoption in Southeast Asia will grow by 300% by 2029, since it only requires a smartphone or terminal to either scan or display a code, representing a very low barrier to entry.
Meanwhile, the Middle East and Africa have reported approximately 25% year-on-year growth in QR adoption in 2025, with the global 2025 market size expected to reach USD 17.58 billion, showing steady expansion driven by mobile wallet usage. Moreover, as cross-border interoperability, government cashless initiatives, and increased smartphone penetration worldwide support growth, the market is forecast to double in value within five years.
The partnership therefore aligns with broader shifts toward unified payment standards. By supporting common QR formats, Liquid Group and TerraPay aim to accelerate adoption of interoperable digital payments across these regions.
The MoU also establishes a foundation for ongoing collaboration, including technical integration, compliance alignment, and pilot deployments involving participating payment providers in selected African and Asian markets.
