United Overseas Bank (UOB) is set to enhance its financial services across borders by expanding its cross-border QR payment service to Indonesia and Thailand. Additionally, UOB will extend its real-time fund transfer service to Malaysia, providing customers in Singapore with seamless financial capabilities while traveling.

Customers in Singapore can now leverage UOB’s TMRW app to make payments in Indonesia and Thailand by scanning the respective standard QR codes—Indonesia’s QRIS and Thailand’s PromptPay QR. This move aligns with the recent collaboration between Singapore’s Nets QR and Indonesia’s QRIS, facilitated by the Monetary Authority of Singapore (MAS) and Bank Indonesia.

The deepened collaboration between Nets and Thailand’s inter-bank payment infrastructure, ITMX, enables cross-border QR payments between Singapore and Thailand. This expansion allows UOB customers to experience the convenience of scanning and paying with Nets QR in Thailand, similar to their domestic transactions.

In a separate announcement, MAS and Bank Negara Malaysia have agreed to enhance the linkage between the national real-time payment systems—PayNow in Singapore and DuitNow in Malaysia. This initiative enables individuals to seamlessly transfer money between the two countries using their mobile phones.

As part of a phased industry approach, UOB’s Duitnow fund transfer service with Malaysia is expected to be accessible to all UOB customers in Singapore by the end of January 2024. This strategic expansion aims to facilitate efficient and secure financial transactions for individuals traveling within the region, reinforcing UOB’s commitment to regional connectivity and customer-centric financial solutions.