QFPay digital payments receives funding to expand globally

QFPay digital payments recieves funding - Investors - money

QR code-based payment technology company, QFPay receives $20 million in funding. The new funding comes from QFPay digital payments investors, Sequoia Capital China and Matrix Partners. The Hong Kong-based company also received funding from new investors, Japan-based Rakuten Capital, Dubai-based VentrueSouq, and the corporate VC arm of Telkom Indonesia, MDI Ventures. With this new financial support, QFPay intends to expand its digital payments presence further. These new investments will give QFpay digital payments the chance to not only continue to expand within its core markets across Asia, but also further…

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OCBC Bank introduces QR code cash withdrawals to customers

QR Code cash withdrawals - ATM money

Customers of Singapore’s OCBC Bank can now withdraw money using QR Codes. OCBC Bank customers can now make QR code cash withdrawals at OCBC ATM machines. By simply scanning a code with their phone, they can withdraw cash without having to use an ATM card or PIN. This new system offers better security to bank customers. In order to make QR code cash withdrawals, customer will need OCBC’s Pay Anyone app. Using the app, they can scan a quick response code displayed on the screen of the ATM. After scanning…

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Top restaurant in Chicago to embrace WeChat Pay

WeChat Pay - Restaurant

Steak 48 will be adding mobile wallet payments to its payment options. To accommodate the number of Chinese tourists visiting its restaurant, Steak 48, one of Chicago’s top restaurant brands, plans to accept WeChat Pay starting July 1st. All Prime Steak Concepts brands will support the payment platform. WeChat Pay is one of the largest mobile messaging and payment platforms in the Chinese sector and the world. With millions of tourists and business travelers coming from China to shop at stores and enjoy a meal at restaurants in North America,…

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Bank Indonesia officially launches national QR code payments standard

National QR Code Payments Standard Launched in Indonesia

The Quick Response Indonesia Standard (QRIS) code system has been released. Bank Indonesia (BI) has finally launched its national QR code payments standard, the QRIS code system. The goal of this system is to universalize cashless payment in the country. The system allows for a consumer to transfer funds from one payment system to any other within the BI ecosystem. As QR Code press reported back in April, Bank Indonesia, Indonesia’s central bank, had been working on conducting a trial to establish national QR code payments standards for the country’s…

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New QR code security system in Japan to help boost cashless transactions in the country

QR code security system - CGTN America YouTube

Electronic payments have been slow to expand in Japan. A new QR code security system is in the works that could help cashless payments take off in Japan. The country wants to increase its number of digital transactions to not only reduce the number of cash transaction, but to also make it easier for the government to collect taxes with better efficiency. Japan wants to increase total digital payments of all transactions to 40% by 2025. In Japan, cashless payments have been slow to take off, with 80% of people…

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