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October 18, 2019

Liquid Group, E.SUN Bank to enable Singapore-Taiwan cross border payments

Liquid Group has opened a new payment corridor to enable cross-border payments between Singapore and Taiwan.

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The QR payment services group opened the corridor in partnership with Taiwanese lender E.SUN Bank.

The move will enable customers of Liquid Group’s partners to make cashless payments for their purchases in Taiwan using preferred payment apps at participating merchant stores.

Alongside, E.SUN Bank customers can use their domestic mobile payment services to pay at participating merchants in Singapore.

The service also offers the customers real-time notifications on payment statuses and transaction history.

It is expected to benefit the local consumers in both the island-countries travelling to Singapore or Taiwan.

The introduction of the cross-border payment service is expected to strengthen Liquid Group and E.SUN Bank international merchant partner pool.

Furthermore, Liquid Group and E.SUN Bank agreed to work together to provide additional value-added services to their partners. It includes enabling them to launch marketing campaigns with participating payment apps.

Liquid Group founder and CEO Jeremy Tan said: “For many digitally-savvy Singaporeans and Taiwanese travellers, the ease and convenience of traveling cash-light with their e-wallets will make them feel right at home.

“Furthermore, we look forward to making the interoperability of the QR payment apps on our network multi-lateral, in support of growing intra-regional travel.

“This would mean that travellers across the 10 markets in our network could make payment using their preferred domestic QR payment apps in any of these markets.”

The rollout of the cross-border interoperability framework in Taiwan will be carried out in phases. Earlier, Liquid Group launched such interoperability trials in Hong Kong and Indonesia.

Free Report
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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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