New Visa QR Payment Initiative Supports Seamless Tourism Experiences Across Asia Pacific, From Singapore to Vietnam, China, and Taiwan

Published on November 6, 2024

Visa has announced a new initiative to make cross-border digital payments more accessible and seamless across the Asia Pacific region. By partnering with leading QR payment providers, Visa aims to enable travelers to use their preferred digital wallets for transactions abroad, allowing them to scan and pay at merchant QR codes. This pilot program will first launch in Singapore before expanding to other countries across the region.

This initiative brings together major QR payment players across Asia Pacific, including Lakala in Mainland China, Touch ‘n Go Digital in Malaysia, FOMO Pay in Singapore, LINE Pay in Taiwan, and VNPay and Zalopay in Vietnam. Through these collaborations, Visa will extend its secure and user-friendly QR payment capabilities, enabling consumers to pay conveniently whether at home or overseas.

Visa’s new cross-border payment initiative highlights its commitment to simplifying international transactions and supporting the growing demand for QR payments in Asia. According to Visa’s Consumer Payment Attitudes Study, QR payments are quickly rising in popularity, with 26% of Southeast Asian consumers preferring QR payments through digital wallets, following traditional card payments at 34%.

“This expansion is a breakthrough in the Asia Pacific payments ecosystem,” said T.R. Ramachandran, Senior Vice President and Head of Products and Solutions for Visa Asia Pacific. “Travelers accustomed to using QR payments locally can now enjoy that same convenience abroad. Visa is dedicated to enhancing user experience across various geographies and QR platforms, making international payments as seamless and secure as possible.”

The program also promises to benefit merchants by lowering transaction costs and simplifying operations. Small and medium-sized businesses, in particular, stand to benefit from increased reach, as they can now serve both local and international customers using QR payment systems.

Visa’s partnerships leverage Juspay’s payment technology to provide QR payment providers with technical support, ensuring smooth and consistent user experiences across the different platforms.

As global travel and international commerce continue to evolve, Visa’s initiative represents a forward-thinking approach to payment accessibility. By broadening QR payment options, Visa aims to foster greater financial inclusion and facilitate more connected experiences for travelers across Asia Pacific.