- Liquid Group expands its cross-border payment network to Taiwan through a strategic collaboration with its leading bank in digital banking, E.SUN Bank.
- Following Hong Kong and Indonesia, Taiwan will be the third market activated on Liquid's regional payment network, enabling the payment apps of the partners of both Liquid Group and E.SUN bank to be seamlessly used in Singapore and Taiwan.
- The initiative will also greatly enhance the payment journey for consumers travelling between Singapore and Taiwan, providing them the convenience of using their preferred local payment apps to make purchases overseas.
Liquid Group today announced a strategic partnership with E.SUN Bank to enable cross-border payment acceptance in Singapore and Taiwan. With the opening of the Singapore – Taiwan corridor for payments, customers of Liquid Group's partners will be able to pay for their purchases using their respective payment apps at participating merchants in Taiwan; and, likewise, customers of E.SUN Bank will be able to make payments using their mobile payment services at participating merchants in Singapore.
As Taiwan's leading bank in digital banking, E.SUN Bank has a vast network of merchants including convenience stores and its popular night markets favoured by tourists, which traditionally only accept cash payments.
Consumers travelling between Singapore and Taiwan will enjoy a seamless cross-border payment journey, greater convenience and enhanced security while using their preferred domestic apps for their cashless payments. Real-time notifications on payment statuses and the availability of online transaction history also provide an additional layer of security for every payment transaction.
This partnership will also expand the international merchant pool of Liquid Group and its partners and E.SUN Bank as well as offer the participating merchants an opportunity to cater to an emerging digital-savvy customer base who prefer to travel cash-light with their e-wallets.
Liquid Group will also work with E.SUN Bank to provide additional value-added services to help its partners deliver innovative services to their customers. The integrated payments and marketing infrastructure can enable merchants in Singapore and Taiwan to launch multiple marketing campaigns with participating payment apps without the need for additional cashier training or verification during checkout. The customers of Liquid Group's partners and E Sun Bank will then be able to enjoy promotions and deals offered by participating merchants.
Jeremy Tan, Founder and Chief Executive Officer of Liquid Group, said, "We are delighted to be making rapid progress in driving the borderless interoperability of QR payments across the region. For many digitally-savvy Singaporeans and Taiwanese travelers, the ease and convenience of traveling cash-light with their e-wallets will make them feel right at home. Furthermore, we look forward to making the interoperability of the QR payment apps on our network multi-lateral, in support of growing intra-regional travel. This would mean that travellers across the 10 markets in our network could make payment using their preferred domestic QR payment apps in any of these markets. We are excited to be offering travellers a seamless payment journey in fitting with our transition into the digital age."
The rollout of Liquid Group's cross-border interoperability framework will take place in phases, allowing its partner acquirers to extend their accepted payment modes to multiple participating QR payment apps from overseas issuers. Following Hong Kong and Indonesia, Taiwan is the latest market activated for interoperability trials across Liquid Group's cross-border QR payment network.
About Liquid Group
Liquid Group is a leading QR payment services group headquartered in Singapore with a presence across the Asia-Pacific. It operates an open API based QR payment acceptance network that enables the cross-border acceptance of bank and non-bank QR payment apps across multiple markets in the region. By spearheading the largest cross-border interoperability framework, Liquid Group is an industry leader in the creation of a more connected and robust mobile payment ecosystem for all.
About E.SUN Bank
Named after the highest mountain in Taiwan, E.SUN is committed to being Taiwan's best-performing and most respected bank. Since founded in 1992, E.SUN has set the standard for Taiwanese financial service with its professionalism, prudence management, and excellent customer service. Now, E.SUN is a Taiwan's leading bank in SME, wealth management, credit card, and digital banking. In the future, E.SUN will focus on the mission to strengthen business in Taiwan, to build up the Asian platform, and to be the pioneer of financial innovation.