QR code payments are here for Singapore and Indonesia cross border

💳️ The QR Connection: The deal between Singapore and Indonesia would let users of certain banks make retail payments via NETS QR (Singapore) and QRIS (Indonesia) created by merchants from these countries. Singapore already does this with China, Malaysia, Thailand and India

Both countries and their residents benefit from:

• 💸 Fast, secure and cheaper transfers

• ✈️ Promotes both ecommerce and tourism in both countries

🪙 Local currency deal: They are also establishing a local currency settlement framework that lets these payments be done using their own currencies (Singaporean dollars and Indonesian rupiah)