As the number of visitors to Singapore continues rising post-pandemic, the Monetary Authority of Singapore (MAS) is expecting more and higher-value cross-border payment transactions.

Indonesia and Malaysia have officially launched cross-border payment with Quick Response Indonesia Standard (QRIS) after months of testing.

The 42nd ASEAN Summit in Labuan Bajo, Indonesia, has adopted the Leaders’ Declaration on Advancing Regional Payment Connectivity and Promoting Local Currency Transaction.