Tag: crossborder payments

The link is available at businesses and is between Indonesia’s Quick Response Code Indonesian Standard (QRIS) and apps from Alipay and UnionPay International.

This idea behind the framework is to improve liquidity management and operational speed through six key policy areas.

Payment Connect, which currently involves 12 financial institutions, links Hong Kong's FPS with China's IBPS, and went live on June 22.

The region could see almost 37% of the total global payments landscape, interoperability, digital wallets and QR codes are all likely to help the market grow from $12.8tn in 2024.

Cross-border payments platform Project mBridge continues to develop, moving from its pilot phase into the realm of the MVP. HK Fintech Week 2024 heard how it could pave the way for a new era in digital finance.

The HKMA is setting up a SME task force as companies look overseas and want to improve their financial management tools as a strong HKD persists.

Globally, Asia has a higher level of interoperability and is a leader across a host of payment methods such as QR codes, but the region remains “extremely diverse”, according to FXC Intelligence.

SC has become the first foreign bank in the offshore market that can participate in the global clearing platform for Rmb with two large Greater Bay Area-based firms taking part in the launch.

A global survey by Swift into the low value cross-border payment market has highlighted the importance of security and the adverse impact of hidden fees.

The global digital payments player has made a strategic investment in growth-focussed TerraPay, which has ambitious regional expansion plans.

CorporateTreasurer spoke with Swift head of ASEAN, Sharon Toh, on Swift’s latest initiative to embed CBDCs within existing payment networks.

The agreement provides Finastra’s bank customers access to Visa Direct, allowing them to offer real-time cross-border payment options to SME clients.