Search Results for: ASEAN QR Code

September 16, 2023 @ 10:18 am By Michael Wong  |  

The recently introduced ASEAN QR Code innovation promises to open up a broader market for micro, small, and medium enterprises (MSMEs) by facilitating seamless cross-border payments, Pandu Sjahrir, the legacy lead of ASEAN QR Code, told Indonesia’s news agency ANTARA. This integration offers a platform… Read More

March 16, 2024 @ 3:13 pm By Michael Wong  |  

Starting in 2025, Japan and the Association of Southeast Asian Nations (ASEAN) plan to unify QR code payment systems to simplify transactions and avoid the need for currency exchange, especially benefiting tourists. This move, as reported by Vietnam News Agency (VNA) and announced by Japan’s… Read More

November 11, 2023 @ 6:22 pm By Omar Faridi  |  

Maybank announced the expansion of its cross-border QR Pay service to China, one of the first in the market for a Malaysian bank, amplifying Maybank’s existing cross-border payment capabilities and enhancing the ease and efficiency of financial transactions. This initiative aims to benefit over 8… Read More

August 28, 2023 @ 10:34 pm By Michael Wong  |  

Vietnam’s central bank, the State Bank of Vietnam (SBV), has officially joined the Regional Payment Connectivity (RPC) initiative, a scheme initiated by central banks in Southeast Asia to strengthen and enhance collaboration on payment connectivity. SBV officially signed the supplemental Memorandum of Understanding on Cooperation… Read More

August 13, 2023 @ 5:24 am By Omar Faridi  |  

UnionPay International (UPI) and Payments Network Malaysia Sdn Bhd, or PayNet, Malaysia’s national payments network jointly signed an agreement in Shanghai in order to support “the cross-border QR code linkage and enable the full acceptance of the UnionPay App (Chinese-mainland, Hong Kong and Macao versions)… Read More

January 28, 2022 @ 7:10 pm By Omar Faridi  |  

Bank Indonesia (BI) and Bank Negara Malaysia (BNM) announced on January 27, 2022 that they’ve launched a cross-border QR payment linkage. It will “enable instant, secure and efficient cross-border payments between Indonesia and Malaysia.” Via this linkage, consumers in both nations will be able to… Read More

June 20, 2021 @ 4:01 pm By Omar Faridi  |  

Bank Negara Malaysia (BNM) and the Bank of Thailand (BoT) recently revealed that they’ve introduced a cross-border QR payment linkage between the two countries. Under this linkage, both consumers and merchants residing in Malaysia and Thailand can make and receive instant, cross-border QR code payments…. Read More

May 12, 2024 @ 7:09 pm By Omar Faridi  |  

Many countries have launched or are in the process of launching instant payment rails, which are transforming how payments are made and processed, the researchers at Juniper Research noted. However, one key limitation with national payment rails is “that they can only facilitate payments domestically,… Read More

November 5, 2023 @ 8:22 pm By Michael Wong  |  

A recent study conducted by the United Overseas Bank (OUB) suggests that Vietnamese consumers are increasingly turning to digital banking and modern payment methods, with convenience and speed as among the major factors cited for the preference. The report, “ASEAN Consumer Sentiment Study”, indicates a significant… Read More

August 30, 2023 @ 8:47 pm By Omar Faridi  |  

More Asian travelers to Malaysia will enjoy a seamless digital payment experience at over 1.8 million merchants across the country while Malaysian residents will be able to pay with e-wallets of their home country abroad, thanks to a MOU signed recently between Payments Network Malaysia… Read More

August 28, 2023 @ 10:12 am By Omar Faridi  |  

The State Bank of Vietnam (SBV), the central bank of Viet Nam, has officially joined the Regional Payment Connectivity (RPC) initiative. This recent development is “an expansion of the Memorandum of Understanding on Cooperation in Regional Payment Connectivity (MOU RPC) that was initiated by the… Read More

March 31, 2023 @ 4:05 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) have partnered to announce QR codes for payments will now be accepted bilaterally. Users at participating financial firms will now accept in-person payments by scanning a physical code displayed on merchants as well as… Read More

December 11, 2022 @ 9:58 pm By Omar Faridi  |  

Boost, which claims to be the leading regional full-spectrum fintech arm of Axiata, and Payments Network Malaysia (PayNet), the national retail payments network infrastructure announced that Boost merchants in Malaysia can now “accept cross-border payments from Thailand tourists via its DuitNow QR.” This new feature… Read More

November 19, 2022 @ 9:39 pm By Omar Faridi  |  

Bank Indonesia (BI), Bank Negara Malaysia (BNM), Bangko Sentral ng Pilipinas (BSP), Monetary Authority of Singapore (MAS), and Bank of Thailand (BOT) have agreed “to strengthen and enhance cooperation on payment connectivity to support faster, cheaper, more transparent, and more inclusive cross-border payments.” A Memorandum… Read More

October 3, 2021 @ 7:25 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s reserve bank and financial regulator, and Bank Negara Malaysia (BNM). the central bank of the Southeast Asian country, revealed that they are beginning a phased linkage of Singapore’s PayNow and Malaysia’s DuitNow real-time payment solutions. The initial… Read More