KUCHING: Malaysians are set to embrace a seamless shopping experience across Southeast Asia, including Japan, as the country unveiled plans to harmonise its QR code payment systems with those of Southeast Asian nations.
Nikkei Asia, in a news report, said that by fiscal 2025, individuals can expect to make use of PayNet’s DuitNow QR for transactions in various countries within the region.
This initiative, spearheaded by Japan’s Ministry of Economy, Trade, and Industry, aims to facilitate cashless payments abroad, eliminating the need for currency exchange hassles.
Discussions between Japanese officials and counterparts in Southeast Asia, including Indonesia and Cambodia, have already laid the groundwork for this transformative collaboration.
The Payments Japan Association, responsible for overseeing Japan’s standardised QR code payment system known as JPQR, plans to construct a new system within this year to establish connectivity with international service providers.
JPQR streamlines payments across various service providers using a unified JPQR-based code.
As such, shoppers can conveniently make purchases in stores by scanning these QR codes using their smartphones.
With a memorandum of understanding already in place among Asean countries like Singapore, Indonesia, Thailand, Malaysia, and the Philippines, the stage is set for enhanced interoperability in digital finance.
“Japan’s move towards interoperability with other QR code payment systems aims to strengthen its ties with the region in terms of economic security and data use.
“It hopes to increase its economic influence in Southeast Asia with an eye on countering China, which is seeking to expand the use of its domestic platforms for smartphone-based digital payments in Asia and Africa,” said Nikkei Asia.
