Philippines To Launch Standardised QR Code For Payments Soon
by Fintech News Philippines September 9, 2019The Philippines is anticipated to launch a standardised QR code for payments by September, according to a report by Philstar. The plan to standardise QR payments in Philippines was first announced by the late BSP Governor Nestor A. Espenilla, Jr in July last year.
With QR payments being increasingly popular especially within the ASEAN region, Philippines follows in the footsteps of countries like Singapore, Indonesia, and Malaysia in adopting a standardised QR payment to drive interoperability between e-wallet providers.
The Chairman of Fintech Alliance.Ph, Lito Villanueva recently called for ASEAN regulators to standardise payment QR codes across the region, citing that it is a critical positive development in realizing a common aspiration towards an ASEAN Economic Community.
Meanwhile Singapore and Thailand has already been working towards standardising their payment QR code as early as November 2018.
