Liquid Group and PT Bank CIMB Niaga have forged a strategic partnership to spearhead cross-border QR payment acceptance between Singapore and Indonesia.
The partnership was initiated through their joint participation in Bank Indonesia’s Quick Response Indonesian Standard (QRIS) trial for cross-border payment transactions. The QRIS trial was conducted last May 23 using the CIMB Niaga’s digital banking product “Go Mobile” carried out at selected merchants located at Terminal 3 of Singapore Changi Airport.
Slated to launch in the third quarter of 2019, Liquid Group and CIMB Niaga will enable the acceptance of participating QRIS compliant payment apps and e-wallets at Singapore Changi Airport through Liquid’s integrated QR payments and marketing infrastructure launched back in April this year.
Liquid Group and CIMB Niaga have successfully completed their proof-of-concept with CIMB Niaga’s Go Mobile application and QRIS compliant payment apps and e-wallets.
With the integration of Bank Indonesia’s QRIS code into Liquid Group’s cross-border payments platform, Indonesian travellers will be able to use their preferred local payment apps to make purchases at Changi Airport.
Furthermore, Liquid Group and CIMB Niaga will be looking at opening the Singapore-Indonesia corridor for QR payments, enabling the acceptance of Singapore’s local payment apps and e-wallets at participating merchants in Indonesia.
Lani Darmawan, consumer banking director of CIMB Niaga, said Go Mobile QR app offers a perfect solution to our customers who may not travel aboard with credit cards or large amounts of cash.
“The Go Mobile application will offer customers an attractive and competitive exchange rate at the point of payment, with the option to draw funds from their savings accounts, e-wallets and credit cards,” Lani said.
Teo Chew Hoon, group SVP of Airside Concessions at Changi Airport Group, said the initiative will make Changi Airport the first retail destination to spearhead the acceptance of cross-border QR payments using Liquid Group’s first-of-its-kind unified QR payment infrastructure.