Liquid Group, a digital payment solutions provider, announced the launch of roamQR, a new QR payment switch solution designed to simplify cross-border payments across the Asia Pacific region.
Building on the success of the SGQR+ initiative led by the Monetary Authority of Singapore (MAS), roamQR will enable interoperability between various e-wallets, mobile payment apps, and national QR networks.
This initiative aims to create a more seamless and efficient payment experience for both consumers and merchants by supporting both e-money “push” transactions, where funds are transferred directly from the user’s e-wallet, and card scheme-linked “pull” QR payments, where funds are pulled from the user’s linked bank account.
With roamQR, users will be able to make payments using their preferred e-wallet at participating merchants across different countries.
The platform launched at the Singapore Fintech Festival with partners including Changi Pay, DCS Card Centre, eft Payments (Asia) Limited, FavePay, GLN, Google Pay, MariBank, Pyng, ShopeePay, and WeChat.
Expansion to other key markets including Japan, China, Hong Kong, Korea, Brazil, the Philippines, Vietnam, Cambodia, Malaysia, Australia, and India is planned for Q1 2025.
roamQR is expected to connect approximately 50,000 merchants in Singapore and over 50 million merchants globally.
The platform adheres to industry security standards and is both PCI DSS and ISO 27001 certified.
Jeremy Tan, CEO of Liquid Group, said,
“The launch of roamQR emphasizes the critical importance of interoperability in today’s QR payment landscape. By serving as a switch, we are enabling connections among various e-wallets, merchant acquirers, and national networks, allowing anyone to participate and be recognized within the network.
This many-to-many approach fosters competition, driving improvements and innovation that benefit both consumers and merchants. Coming together with industry players, we are stronger, and our collective efforts will enhance services and create a more vibrant payment ecosystem for all.”
Featured image credit: Edited from Freepik
