Liquid Group announces expansion of international QR payment system

| |

Daniel Webber
Daniel Webber
Founder & CEO
Daniel is Founder and CEO of FXcompared and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely… Read more
  • Around 10 nations in Asia will benefit from the newly expanded system, which will provide seamless and fast transmission of QR code payments
  • Interoperability trials set to begin to ensure that the new framework operates as intended – and is expected to take up to 36 months
  • “We are encouraged by the strong support of our partner acquirers who share a common objective to achieve borderless interoperability of QR payments”, said Liquid Group’s founder

A worldwide payment services organisation has revealed that it will take its QR code payment system to 10 new Asian markets.

Liquid Group, which is based in Singapore, will now offer these services in a range of financial hotspots across the continent including Singapore itself as well as Taiwan, Hong Kong and South Korea.

Countries which have large remittance markets are also covered by the expansion.

China, Thailand, Malaysia, Indonesia and more are all present.

The new network will make it much easier for app developers who offer QR payment services to reach sellers and business owners across the continent.

It relies on what was described by Liquid as a “common cross-border interoperability framework”, which means the QR codes can work across countries and facilitate cross border payments.

Once released, customers will be able to select which QR code provider they like, even for international transactions – and will no longer have to think carefully about whether or not that app will be accepted.

The purchases made using this system will be safe and instantaneous.

It could even save consumers cash, as it may lead to them being able to take advantage of cheaper fees and local offers – even when the transaction placed is international.

The next stage of the project will be to trial the interoperability.

This is set to begin in the final quarter of 2019.

Overall, it is due to take up to a year and a half to get the system up and running.

This is all part of a sustained effort by Liquid Group to create a strong infrastructure for international QR payments through the facilitation of strategic alliances.

It has previously worked on a project to enhance seamless QR code payments in two key markets for Singapore – Malaysia and Hong Kong.

According to Jeremy Tan, who is the founder and chief executive officer of Liquid Group, the latest move will “truly advance” the cause of international QR code payments.

“We are encouraged by the strong support of our partner acquirers who share a common objective to achieve borderless interoperability of QR payments”, he said.

“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.”

The online money transfer world is a busy one, and it pays to keep up with the latest developments.

Check out our news pages here to learn more.

Most Read

Use Our Currency Comparison Tool

Select country...

Select country...


Editor's Choice is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.