SINGAPORE startup Liquid Group is partnering Indonesian bank CIMB Niaga, majority-owned by CIMB Group, to facilitate crossborder QR (Quick Response) payments between Singapore and Indonesia.
The partnership follows Liquid's announcement in April that it will roll out an integrated QR payment and marketing platform at Changi Airport in collaboration with Changi Airport Group.
Indonesian travellers will be able to use their preferred local payment apps to make purchases at Changi Airport from the third quarter of 2019. CIMB Niaga and Liquid are also looking at opening the Singapore–Indonesia corridor for QR payments to allow the acceptance of Singapore’s local payment apps and e-wallets at participating merchants in Indonesia.
In May, Liquid and Joint Electronic Teller Services Limited (JETCO) announced a strategic partnership to enable crossborder QR payments between Singapore and Hong Kong.
Jeremy Tan, chief executive of Liquid Group, added: “Accelerating the adoption of QR payments across borders is our key mission and we appreciate the vote of confidence given to us by CIMB Niaga in using Liquid Group’s integrated payments and marketing infrastructure at Changi Airport for their QRIS (Quick Response Indonesian Standard) trial."
Lani Darmawan, consumer banking director at CIMB Niaga, said: "(The partnership) offers a perfect solution to our 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."