Following in China’s footsteps, AsiaMalls in Singapore is about to accept UnionPay QR Code payments across its six properties.
The group has signed a memorandum of understanding with UnionPay International to roll out the service at Hougang Mall, Liang Court, Tampines 1, Tiong Bahru Plaza and White Sands, as well as Century Square when it reopens next year.
The enhanced system will roll out in phases from next year.
It is the first large-scale partnership between a mall manager and a global payment brand to deploy QR Code payments across malls in Singapore.
UnionPay International is a member of the SGQR taskforce led by the Info-communications Media Development Authority and Monetary Authority of Singapore to develop use of QR Code in Singapore. UnionPay is also part of a workgroup developing an international standard for QR Code payments.
UnionPay QR Code payments allow merchant discounts and payment transactions to be processed via a single code scan. Shoppers without NFC-enabled smartphones can also make contactless mobile payments.
AsiaMalls Management MD Tan Kee Yong says the introduction of the QR Code payment option will allow the stores to expand their clientele base.