American multinational payment card service Visa has announced a strategic initiative to enhance cross-border QR payment accessibility, partnering with leading QR payment providers across Asia. 

In a press statement, Visa says that this collaboration is set to enable travellers to pay at point-of-sale QR merchants abroad using their local digital wallet apps, launching first in Singapore with expansions to follow across the region over the coming year.

The statement adds that Visa’s new partnerships include QR payment networks Lakala from China, Touch ‘n Go Digital from Malaysia, Fomo Pay from Singapore, Line Pay from Taiwan, VNPay and Zalopay from Vietnam. 

The statement adds that with this collaboration, Visa will provide the technical expertise to connect these regional networks, allowing app users to pay using their digital wallets across various countries. 

Visa says its integration of QR technology, supported by payments firm Juspay, aims to provide a seamless, secure experience across diverse payment networks.

TR Ramachandran

“These partnerships represent a significant leap forward for the payments ecosystem in Asia Pacific. Consumers accustomed to QR payments at home can now enjoy the same seamless and secure payment experience abroad. Visa aims to provide a consistent and superior user experience across QR types and geographies, which can lead to higher adoption rates among consumers,” says TR Ramachandran, Senior Vice President, Head of Products and Solutions, Asia Pacific, Visa.

Visa says that expanding QR payments has benefits beyond consumer convenience. 

The partnership allows merchants, particularly small and medium businesses, to accept Visa payments without the cost of adopting additional payment infrastructures.

“As international commerce continues to evolve, we remain committed to building a more connected and inclusive payments ecosystem across Asia Pacific. We have a game-changer here as we are also bringing financial inclusion by enabling lower-cost QR payments into the traditional cards network, while giving consumers and merchants more choice,” adds Ramachandran. 

“Visa can remove barriers and connect with more partners, and we are excited about the opportunities ahead that can truly uplift everyone, everywhere, by being the best way to pay and be paid,” he says.

As QR payments grow in popularity, Visa’s Consumer Payment Attitudes Study reports a 26 pc usage rate for digital wallet QR payments across Southeast Asia, just behind card payments at 34 pc. 

Visa says its initiative aligns with regional trends and aims to bridge convenience for consumers and inclusivity for merchants, helping build a cohesive digital payments ecosystem across Asia.