UnionPay International (UPI) is piloting a cross-border QR payment linkage between China and Indonesia.
UPI and its partners are currently in a sandbox phase that allows selected users from mainland China to make QR payments using UnionPay and Alipay apps at over 40 million merchants in Indonesia utilizing the country’s QRIS unified QR system.
Additionally, participating merchants within the UnionPay and Alipay networks in mainland China can accept QR payments from 22 popular Indonesian mobile payment apps.
Payments will be settled in the respective local currencies, aiming to streamline the cross-border payment process for residents of both nations while helping merchants expand their customer base.
This initiative, guided by the central banks of both countries, is currently limited to whitelisted participants and merchants, but full rollout is anticipated by the end of the year.