CIMB Niaga and Liquid Group spearhead Singapore-Indonesia payments
CIMB Niaga and Liquid Group have formed a strategic partnership to spearhead cross-border (quick response) QR payments between Singapore and Indonesia, reports Jane Connolly. 
The partnership follows both organisations’ successful participation in Bank Indonesia’s Quick Response Indonesian Standard (QRIS) trial for cross-border payment transactions last month.
Using CIMB Niaga’s digital banking product Go Mobile, the trial was carried out at selected merchants at Singapore Changi Airport.
From later this year, Indonesian travellers will be able to shop at Changi Airport using participating QRIS compliant payment apps and e-wallets, through Liquid’s integrated QR payments and marketing infrastructure, which was launched in April.
CIMB Niaga and Liquid Group also propose to open up the Singapore – Indonesia corridor for QR payments, so participating merchants in Indonesia can accept Singapore’s local payment apps and e-wallets.
Lani Darmawan, consumer banking director at CIMB Niaga, says: “We are honoured to be the first bank in Indonesia to be given the opportunity by Bank Indonesia to conduct a cross-border QRIS payment trial.”
She adds: “This also offers a perfect solution to our customers who may not travel abroad 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 abroad.”
In May, Liquid Group announced a strategic partnership with Jetco to enable cross-border QR payment acceptance in Singapore and Hong Kong.
