Allinpay And Standard Chartered Enable QR Payments Across Borders

Standard Chartered Bank and the Singaporean company Allinpay have made it possible for merchants and businesses in Hong Kong to use QR codes to make instant cross-border payments through PayNow.

Merchants who want to take Singapore PayNow payments in Hong Kong will be able to do so without having to pay for infrastructure or operations. Also, Singaporeans won’t have to deal with exchange rates or fees for crossing borders.

Tay Tiong Hean, who is the general manager of Allinpay Merchants Services, said:

“It is timely to spearhead PayNow QR payments at Hong Kong merchants with the resumption of travel. We are confident that this partnership will offer a real-time and seamless digital payment experience through Allinpay’s integrated platform to truly meet our customers’ needs for better cross-borderpayments, cost savings and mobile lifestyle.”

The change is expected to increase travel between the two countries and bring in money for Hong Kong businesses that take part.

Ankur Kanwar, who is the head of cash products at Standard Chartered in Singapore and the ASEAN region, said:

“We are laying the tracks for a whole new digital world of transactions. With capabilities to access over 20 instant payments infrastructures globally, we look forward to extending this solution to more markets in the future, enabling our fintech partners to deliver a fast and frictionless experience to their merchants and boost the tourism economy.”

The solution is the first one of its kind for QR payments in Hong Kong. Allinpay also offers other ways to pay in the country through Alipay and WeChat Pay.