Mobile payment services firm Liquid Group has collaborated with Joint Electronic Teller Services (JETCO) to facilitate cross-border QR payments between Singapore and Hong Kong.

The alliance will enable acceptance of the QR payment apps of the partner banks of both the companies in Singapore and Hong Kong. The new initiative eliminates the need for travellers to carry physical foreign currencies.

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Liquid Group expects the partnership to drive use of international QR bank payment apps in Singapore.

Liquid Group founder and CEO Jeremy Tan said: “We are excited to be moving at pace to advance cross-border QR payments, for which the traveller segment is a key driver.

“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.”

The partners will also work together to offer other value-added services that will aid their member banks in providing new services to their customers.

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In addition, the new QR payments corridor will allow businesses in Hong Kong as well as Singapore to introduce various marketing campaigns with certain payment apps.

The customers of JETCO and Liquid Group partner banks will also benefit from promotions and deals offered by participating merchants.

JETCO CEO Angus Choi said: “This collaboration with Liquid Group will enable us to expand the use of QR payments in Hong Kong and Singapore, and offer consumers easy access to the service not only locally, but also when they travel overseas.

“Our common goal is to enlarge the mobile payments ecosystem as a whole, accelerating the ‘cashless’ transition of these two societies and yielding benefits to everyone.”