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ASEAN-wide arrangement would ease reliance on U.S. dollar
A Jakarta shopping district. The cross-border QR code payment arrangement will make it easier for Southeast Asians to pay for items in other countries in the region. © Reuters
ERWIDA MAULIA and ISMI DAMAYANTI, Nikkei staff writersAugust 26, 2023 00:21 JST
JAKARTA -- Vietnam, the Philippines and Brunei will join other major Southeast Asian economies in an interconnected QR code payment system that aims to promote use of local currencies and reduce dependence on the U.S. dollar.
Indonesia, Thailand, Malaysia and Singapore are already progressing with the implementation of bilateral transactions using QR codes among one another -- which was initiated last year, said Perry Warjiyo, governor of Indonesia's central bank, on Friday.
Vietnam, Philippines and Brunei to join cross-border QR payment scheme
ASEAN-wide arrangement would ease reliance on U.S. dollar
asia.nikkei.com
