SINGAPORE - Liquid Group and Joint Electronic Teller Services (JETCO) are collaborating to enable cross-border QR payment acceptance in Singapore and Hong Kong, they said in a joint press statement on Thursday (May 21).
Liquid Group is headquartered in Singapore and has a presence in Malaysia, Thailand and Indonesia, while bank consortium JETCO has more than 30 member banks in Hong Kong and Macau, and operates some 3,000 ATMs in Hong Kong, Macau and over 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 their respective QR payment apps with merchants in Hong Kong.
Likewise, 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.
This offers consumers easy access to the service not only locally, but also when they travel overseas, said Angus Choi, CEO of JETCO.
The strategic partnership will encourage the adoption of QR payments using mobile banking apps across both cities, and the travel segment is a key driver of such payments, said Jeremy Tan, founder and CEO of Liquid Group, a South-east Asian mobile payment services group.
Liquid Group and JETCO will also work to provide additional value-added services to help member banks deliver innovative services to their customers.
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 offered by participating merchants, according to the press statement.
Said Liquid Group's Mr Tan: "We will continue to partner with 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."