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Liquid Group partners CIMB Niaga to spearhead SG-Indonesia QR payments

Liquid Group partners CIMB Niaga to spearhead SG-Indonesia QR payments

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Liquid Group has partnered CIMB Niaga to spearhead cross-border QR payment acceptance between Singapore and Indonesia. Slated to launch in the third quarter of 2019, Liquid Group and CIMB Niaga will enable the acceptance of participating Quick Response Indonesian Standard (QRIS) compliant payment apps and e-wallets at Singapore Changi Airport through Liquid’s integrated QR payments and marketing infrastructure launched earlier in April.Moving forward, the two organisations will also look into enabling the acceptance of Singapore’s local payment apps and e-wallets at participating merchants in Indonesia. Liquid Group CEO Jeremy Tan said: “Further to opening up the Singapore-Hong Kong corridor for QR payments last month, we are thrilled to now offer Indonesian consumers the convenience and benefit of cross-border QR payments starting with those stopping over at Singapore Changi Airport.”According to Teo Chew Hoon, group senior vice president of airside concessions at Changi Airport Group, the collaboration will see Changi Airport as the first retail destination to spearhead the acceptance of cross-border QR payments using Liquid Group’s unified QR payment infrastructure. It is also part of the corporation’s efforts to elevate the shopping experience for our passengers and make their payment journey a frictionless one, she added.The partnership between Liquid Group and CIMB Niaga was initiated through their joint participation in Bank Indonesia’s QRIS trial for cross-border payment transactions. The QRIS trial was conducted on 23 May at selected merchants located at Terminal 3, Singapore Changi Airport through CIMB Niaga’s digital banking product, “Go Mobile”.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.CIMB Niaga is the first bank in Indonesia to conduct a cross-border QRIS payment trial. CIMB Niaga consumer banking director Lani Darmawan said the solution offers ease of transacting to its customers who may not travel aboard 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. 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,” added Darmawan.Liquid Group and Joint Electronic Teller Services Limited have also inked a strategic partnership to enable cross-border QR payment acceptance in Singapore and Hong Kong earlier in May.

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