Singapore’s Liquid Group has teamed up with Indonesia-based BANK CIMB Niaga (CIMB Niaga) to support cross-border QR payments between Singapore and Indonesia.

The two parties trialled cross-border payments using the Quick Response Indonesian Standard (QRIS), which was introduced by the central bank of Indonesia last month to universalise cashless payments.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The trial was conducted at selected merchants of Singapore Changi Airport with Go Mobile- the digital banking offering of CIMB Niaga.

Indonesian travellers will be able to pay with participating QRIS compliant payment apps and e-wallets at Changi Airport from the third quarter of this year.

This will be facilitated through Liquid’s integrated QR payments and marketing infrastructure.

Changi Airport Group group senior vice president of airside concessions Teo Chew Hoon said: “This collaboration with Liquid Group and CIMB Niaga will make Changi Airport the first retail destination to spearhead the acceptance of cross-border QR payments using Liquid Group’s first-of-its-kind unified QR payment infrastructure.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Moreover, both the firms intend to open up the Singapore – Indonesia corridor for QR payments.

This will allow Indonesia-based merchants to accept Singaporean payment apps and e-wallets.

CIMB Niaga consumer banking director Lani Darmawan said: “We are honoured to be the first bank in Indonesia given the opportunity by Bank Indonesia to conduct a cross-border QRIS payment trial.

“We believe that this initiative will greatly benefit our customers who can enjoy the ease of transacting abroad, starting with Singapore’s Changi Airport, using our Go Mobile QR app.

“This also offers a perfect solution to our customers who may not travel aboard with credit cards or large amounts of cash.”