Thailand’s Siam Commercial Bank (SCB) has partnered with Singapore-based payment services Liquid Group to enable cross-border QR payments.
The collaboration leads to the creation of a Singapore-Thailand QR payment corridor, where SCB will sponsor Thai banking applications offering cross-border QR payment service.
It will enable the customers to make payments at Liquid Group’s participating merchants in Singapore with Thai payment apps.
In turn, the move will also allow Liquid Group QR payment app users to shop in participating Thailand stores.
The collaboration is expected to benefit frequent travellers between the two countries. Besides, it is expected to support additional revenue production for participating merchants.
The two parties also agreed to use the integrated cross-border payment and marketing platform to offer value-added services.
It will enable the partners to execute marketing campaigns, promotions and deals.
Siam Commercial Bank WB Future Platform, Global Transaction Banking Services Division first senior vice-president Sopol Chattananant said: “Partnership with a QR payment service provider such as Liquid Group will propel the SCB Global Payment 2019 strategy to increase its potential and expand its scope of service.
“It will also help provide more opportunities and better access to real-time and seamless global payment experiences for Thai customers going abroad and foreigners coming to Thailand.
“In the initial stage, the service will enable Thai customers going to Singapore to use the SCB Easy Application and mobile banking applications of other banks with a cross-border payment feature to scan QR code for payments at shops located in Singapore’s Changi Airport before expanding to other locations.
“In the next stage, the service will allow Singaporean visitors to make payments using QR scanning in Thailand.”
Last month, E.SUN Bank partnered Liquid Group to enable cross-border payments between Singapore and Taiwan.