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2 clusters · 8 sources · 2 days · First seen · Last updated

Southeast Asian banks expanding cross-border QR payments

Overview

Financial institutions in Southeast Asia are expanding mobile payment capabilities across borders. DBS has launched a service through its PayLah! app, allowing Singaporean users to make payments at over 250,000 merchants in Taiwan using the Taiwan QR Code (TWQR) network. The service integrates with various providers including iPass Money and Taiwan Pay, displaying real-time exchange rates for users.

Similarly, Hong Leong Bank has enabled cross-border QR payments in China through a partnership with UnionPay International. This allows customers to scan Weixin Pay, UnionPay, and Cloud QuickPass codes. The feature includes a multi-currency option to convert Malaysian Ringgit into Offshore Chinese Yuan to lock in exchange rates, with specific daily transaction limits for individual and merchant-based payments.

Entities

China · Hong Leong Bank · DBS Bank · Singapore · Chan Sow Han

Timeline

  1. [BUSINESS] 2 sources
    Hong Leong Bank enables QR payments in China via UnionPay partnership

    Hong Leong Bank customers can now use the HLB Connect app to make direct QR payments at 120 million merchants in China using UnionPay, Weixin Pay, and Cloud QuickPass.

  2. [BUSINESS] 6 sources
    DBS PayLah! launches QR payments in Taiwan

    DBS PayLah! users can now use QR code payments at over 250,000 merchants in Taiwan via the TWQR network with no additional service fees.

Sources

fintechnews.hk · fintechnews.id · fintechnews.sg · newspatrolling.com · ohsem.me · thesmartlocal.com · toray.co.jp · winrayland.com