Payment services company Liquid Group announced today that its cross-border QR payment acceptance network has reached 10 markets in Asia.
Through new payment acceptance partnerships, consumers will soon be able to use their preferred local e-wallet to make secure QR code payments in real time across Singapore, Malaysia, Indonesia, Thailand, Cambodia, Philippines, Hong Kong, China, Taiwan and South Korea.
Interoperability trials will begin in the forth quarter of 2019 for six of these markets, while the remaining four markets will be trialled next year.
Liquid Group expects that it will take “24 to 36 months” for partner acquirers to enable the majority of their merchant bases for cross-border QR acceptance.
They will be able to benefit by extending their accepted payment modes to multiple participating payment apps from overseas issuers.
Participating merchants can also look forward to simplified cashier work flows and standardised settlement when accepting overseas QR payment apps, said Liquid Group.
The firm has been continuously building up its network, as it previously secured partnerships with Indonesia’s CIMB Niaga in June, and Hong Kong’s JETCO in May.
It also entered an agreement with Changi Airport Group in April to roll out integrated acceptance of multiple major QR payment apps for merchants in all four terminals at Changi Airport.
Said Liquid Group founder and CEO Jeremy Tan, “By establishing a partnership across 10 markets together, we will become the first in the world to truly advance open cross-border QR payments and spearhead the creation of a more connected and robust mobile payment ecosystem for all.”
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