Central banks of Indonesia and Singapore start trial on cross-border QR code payments
People walk near an entrance to Bank Indonesia's headquarters in Jakarta, Indonesia January 14, 2016. Indonesia's central bank, comfortable that higher U.S. interest rates have not spurred big outflows, cut its interest rates for the first time in nearly a year to try to lift an economy growing at its slowest pace since the global financial crisis. REUTERS/Garry Lotulung
Indonesia’s central bank said on Thursday it had started a trial of cross-border QR code payments with its Singaporean counterpart.
Both have set a target of introducing the system in the second half of this year, according to an earlier statement from Singapore’s central bank.