Indonesia, S'pore pursue QR payment linkage, local currency transactions

Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) have started working towards a cross-border QR payment linkage between the republics as part of the Asean-wide payments connectivity.

In a joint statement issued today, the central banks said this linkage - targeted to launch in the second half of 2023 - allows users to make instant, secure, and efficient retail payments by scanning the QRIS or Nets QR codes displayed by merchants.

QRIS is Indonesia's national standard QR code payment while...