Indonesia and Singapore to launch QR code payments

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The central banks of Singapore and Indonesia plan to implement QR codes for international payments.

Before the end of the year, both banks, Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS), plan to integrate the technology into their payment systems. Singapore has been a particular forerunner in this space. As far back as 2018, it rolled out what it claimed was the world’s first unified payments QR code.

The project is halfway finished, with three-quarters of the beta testing finished, according to BI deputy governor Filianingsih Hendarta, who first revealed the plan in August 2022.

Read More: Indonesia and Singapore set to introduce QR code payments

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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