Standardisation of QR code payments likely across SE Asia, Japan by 2025
Standardized QR code payment systems are expected to be adopted throughout Southeast Asia and Japan by 2025, simplifying transactions for travelers.
Thai tourists may soon bypass currency exchange on their trips to Japan, as discussions are underway for Southeast Asia and Japan to share QR code payment services. This would enable travelers to pay overseas using their domestic payment methods, as reported by Nikkei Asia.
The Japanese Ministry of Economy, Trade, and Industry is negotiating with Southeast Asian authorities to create compatible QR code systems to be implemented by April 2025.
The Payments Japan Association is developing a new system to merge Japan's JPQR with global providers for seamless cashless payments. This would allow visitors from Southeast Asia to pay using QR codes on their smartphones in Japan.
Several Southeast Asian countries, like Thailand and Indonesia, have standardized their QR code payments under their central banks' management, with service providers following suit.
In 2022, five key ASEAN nations—Singapore, Indonesia, Thailand, Malaysia, and the Philippines—agreed to merge their QR payment services, with some already operational.
Japan aims to enhance regional economic security and data management by aligning QR code payments, strengthening its economic presence in Southeast Asia and offsetting China's expansion of digital payment networks across Asia and Africa.
The Japanese Ministry of Economy, Trade, and Industry is negotiating with Southeast Asian authorities to create compatible QR code systems to be implemented by April 2025.
The Payments Japan Association is developing a new system to merge Japan's JPQR with global providers for seamless cashless payments. This would allow visitors from Southeast Asia to pay using QR codes on their smartphones in Japan.
Several Southeast Asian countries, like Thailand and Indonesia, have standardized their QR code payments under their central banks' management, with service providers following suit.
In 2022, five key ASEAN nations—Singapore, Indonesia, Thailand, Malaysia, and the Philippines—agreed to merge their QR payment services, with some already operational.
Japan aims to enhance regional economic security and data management by aligning QR code payments, strengthening its economic presence in Southeast Asia and offsetting China's expansion of digital payment networks across Asia and Africa.
