#Asianwallets#Cross-border#payments

Asianwallets seeks cross-border collaboration

Asianwallets calls for cross-border collaboration to establish payment sharing network

|Dec 9|magazine4 min read

Committed to building an Asia-wide ‘cross-border mobile payment sharing network’, Asianwallets - a brand under Oriental Payment Group (OPG) - is calling for e-wallet companies to join its network, expanding their business to more Asian countries. As well as providing acquirers with a way to connect with local payment methods in multiple countries easily, and supporting merchants to use payment methods that customers favour.

Currently Asianwallets has had access to Singapore's SG QR and Thailand's Thai QR since 2019, and connected with Indonesia's QRIS system in 2020. The solution provides partners with bank and e-wallet payment channels in the three countries. In addition, Asianwallets can directly deploy e-wallet payments to more than 10,000 offline cooperative brand stories in Hong Kong, Singapore, Thailand and Japan.

"Various Asian countries are planning to launch, or have already launched unified QR code standards. Mobile payment is developing at an amazing speed! Despite the rapid development, payment products are gravely homogeneous and severely deficient in competitiveness. Once the market is saturated, a brutal price war will follow! How to maintain the leading edge will be a challenge that all payment institutions must face," commented OPG Vice President Lesile Tham.

Asianwallets is currently in the process of contacting e-wallet institutions in Japan, South Korea, India and other countries to build a ‘cross-border mobile payment network covering all of Asia’.

“By sharing payment channels, merchant resources and system technologies, the network aims to solve the institutions' development problems, enhance brand influence in local markets, and promote the development of mobile payment services in Asia,” commented Asianwallets in a company statement.

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