cross border payment
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Singapore mobile payments startup Liquid Group to partner Indonesia’s CIMB Niaga, a majority-owned CIMB Group bank, to facilitate crossborder QR (Quick Response) payments between Singapore and Indonesia.

The two firms are looking at allowing Singapore’s local payment app and e-wallets be accepted at participating merchants in Indonesia through the scanning of QR codes.

This news comes as Liquid Group entered into an agreement with Changi Airport Group (CAG) in April this year to roll out integrated acceptance of multiple major QR payment apps by merchants located across all four terminals at Changi Airport.

For now, Indonesian travellers will be able to make purchases at any of the four Changi Airport terminals using their preferred local payment apps from third-quarter of 2019.

The integrated payment platform by Liquid Group will allow retailers at Changi Airport to accept e-wallets such as GrabPay, Liquid Pay, Singtel Dash, Ezi Wallet and PayNow QR bank payment apps, as well as international payment app partners such as WeChat Pay, UnionPay and Alipay.

The previous media statement added that Liquid Group will introduce a unified point-of-sales (POS) for QR payments that will enable merchants to accept multiple local and international QR payment apps using a single device.

With a standardised merchant workflow, participating Changi Airport retailers can accept multiple QR payment apps without additional infrastructure, integration, or cashier training.

This platform also enables Changi Airport to launch multiple marketing campaigns with participating payment apps without additional cashier training or verification during checkout.

The above mechanic is also apparent in Liquid Group and Hong Kong’s JETCO partnership that happened in May.

Jeremy Tan, chief executive of Liquid Group, said, “Accelerating the adoption of QR payments across borders is our key mission and we appreciate the vote of confidence given to us by CIMB Niaga in using Liquid Group’s integrated payments and marketing infrastructure at Changi Airport for their QRIS (Quick Response Indonesian Standard) trial.”

Lani Darmawan, consumer banking director at CIMB Niaga, added, “(This initiative) offers a perfect solution to our customers who may not travel abroad with credit cards or large amounts of cash. We see great potential in the adoption of QRIS-supported cross-border payments with an increasing number of people travelling aboard.”

Featured Image Credit: MENAbytes

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Vulcan Post aims to be the knowledge hub of Singapore and Malaysia.

© 2021 GRVTY Media Pte. Ltd.
(UEN 201431998C.)