Hong Kong and Indonesia are exploring QR payment interoperability between the two markets.

The Hong Kong Monetary Authority (HKMA) and Bank Indonesia signed a MoU to strengthen cooperation on cross-border payments.

The agreement was signed by Bank Indonesia Governor Destry Damayanti and HKMA Chief Executive Eddie Yue.

Under the MoU, the two regulators will discuss technical, operational and regulatory issues related to cross-border transactions.

They will also explore arrangements that could support interoperability between QR payment systems in Hong Kong and Indonesia.

The cooperation is aimed at improving the speed, cost and transparency of cross-border payments between the two markets.

 

This article first appeared on Fintech News Indonesia

Featured image: Edited by Fintech News Hong Kong, based on image by Magnific