BNM’s Symposium Participants Experience Making Live Cross Border QR Payments
by Fintech News Malaysia June 8, 2023The Malaysian central bank has kicked off its first BNM Sasana Symposium 2023 (SS2023) today at Sasana Kijang which featured an experiential showcase of the country’s cross-border QR payment linkages with Indonesia, Singapore, and Thailand.
Participants of the Bank Negara Malaysia‘s (BNM) S2023 event was be able to experience making live cross-border QR payments at food vendors from Malaysia, Indonesia, Singapore, and Thailand.
Customers of participating financial institutions can make retail payments by scanning QRIS, NETS, and PromptPay QR codes via mobile banking or e-wallet apps.
It supports in-person payments at physical stores and online e-commerce transactions. The same also applies to tourists from these countries to Malaysia.
Among the participating financial institutions are CIMB Bank, Hong Leong Bank, Maybank, Public Bank, and TNG Digital’s Touch ‘n Go eWallet.
Besides these QR payment linkages, BNM is also working on enabling P2P transfers between these countries through the use of mobile or national identification numbers.
