Last updated on November 5, 2019
QFPay, a leading digital payment technology company that serves over 1.2 million merchants across 13 markets in Asia and the Middle East, has formed a strategic partnership with NETS, Singapore’s largest payments network enabling banks’ customers to make payments using their bank cards or mobile devices at its terminals, to enable NETS QR users to make digital payments at QFPay’s merchant network in Australia, Hong Kong, Japan, Malaysia, the Philippines and Thailand. With this partnership, travellers from Singapore will benefit from the convenience of making payments in these countries through their local mobile payment apps such as NETSPay, DBS Paylah!, OCBC Pay Anyone and UOB Mighty.
Making a cross-border NETS QR transaction is as easy as a local NETS QR payment in Singapore. Consumers simply use the mobile app to scan a NETS QR Code dynamically generated by the merchant using QFPay’s Merchant Payment App.
Example: Transaction flow in Japan
Mr Patrick Ngan, Co-Founder and International CEO of QFPay said: “Facilitating cross border transactions is a key part of growth and globalisation efforts at QFPay. At present, we are already in partnership with more than 20 mobile wallets from Asia and the Middle East, and we are excited to be the driving force in expanding the acceptance of Singapore’s cashless payment systems abroad. This is only the beginning, as we aim to bring NETS to all 13 markets that QFPay currently operates in.”
In addition to NETS QR, QFPay’s Merchant Payment App is integrated and launched with other leading Asian mobile wallets such as AirPay, Alipay, Rabbit LinePay, WeChat Pay, UnionPay QuickPass etc, enabling merchants to accept payments from both locals and foreign travellers. Besides payments, the multifunctional Merchant Payment App also offers Value Added Solutions (VAS) such as Smart Food Ordering, where diners can scan, order their meal and pay with just one QR Code, and other Smart VAS that bring more value to QFPay’s merchants.
With over 10 million overseas trips made by Singaporean residents in 2018, this cross-border partnership is expected to improve safety and convenience for these travellers by reducing reliance on cash and physical cards.