2 firms in tie-up to offer S'pore-HK QR payments

Liquid Group-Jetco partnership to enable cross-border purchases

Two finance firms are joining forces to enable cross-border QR payment acceptance in Singapore and Hong Kong.

The initiative is being undertaken by Liquid Group, a mobile payment services firm based here which has a presence in Malaysia, Thailand and Indonesia, and Joint Electronic Teller Services (Jetco).

Jetco is a consortium of around 30 member banks in Hong Kong and Macau which operate 3,000 or so ATMs in Hong Kong, Macau and about 20 cities in mainland China.

Opening the Singapore-Hong Kong corridor for QR payments will allow customers of Liquid Group's Singapore partner banks to pay for their purchases using QR payment apps with merchants in Hong Kong.

And customers of Jetco's participating member banks in Hong Kong will be able to pay using their QR banking apps at participating merchants in Singapore.

The partnership will encourage the adoption of QR payments using mobile banking apps across both cities, with the travel segment being a key driver, said Liquid Group founder and chief executive Jeremy Tan.

The partnership will encourage the adoption of QR payments using mobile banking apps across both cities, with the travel segment being a key driver, said Liquid Group founder and chief executive Jeremy Tan.

 

Merchants in both cities will also be able to launch multiple marketing campaigns with participating payment apps without requiring additional cashier training or verification during checkout.

These will allow customers of Jetco and Liquid Group banks to enjoy promotions and deals, a statement noted yesterday.

Mr Tan added: "We will continue to partner various e-wallets and expand the network across the region to enable cross-border payment transactions and facilitate large-scale adoption of QR payment apps."

A version of this article appeared in the print edition of The Straits Times on May 24, 2019, with the headline '2 firms in tie-up to offer S'pore-HK QR payments'. Print Edition | Subscribe