QR code payments are taking off in Southeast Asia, but it will take a while to catch up with China

In China, the QR code has replaced cash and cards to become the mainstream payment method. In Southeast Asia, e-payments, QR code payment, and other non-cash payment options are also becoming more and more popular.

On stage at ORIGIN, an event hosted by Technode at SWITCH (the Singapore Week of Innovation and TeCHnology), COO of NETS Jocelyn Ang and Liquid Pay CEO Jeremy Tan spoke about the development of mobile payments and adoption of QR code payment in Southeast Asia.

In the past few years non-cash alternatives have started to proliferate in Southeast Asian countries, Ang said. In Singapore, most mobile apps today are equipped with an e-wallet feature. However, the market is still not seeing consolidations of e-wallet across all sectors, Ang said. China, on the other hand, has a super app like WeChat that is capable of handling payment services across different sectors.

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