11.8 Mln Cross-Border QR Transactions Recorded In 1H 2025
KUALA LUMPUR, Sept 8 (Bernama) -- Malaysians travelling abroad and foreign visitors in Malaysia during the first half (1H) of 2025 made 11.8 million cross-border QR payment transactions worth RM967 million.
Minister in the Prime Minister’s Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa said the number of transactions represented a significant increase compared to 11.7 million transactions valued at RM860 million in 2024.
“These transactions include those between Malaysia and four ASEAN member countries (Cambodia, Indonesia, Singapore, and Thailand) and also encompass Malaysia-China and Malaysia-Korea linkages established through commercial arrangements between payment service providers,” she said in a written reply to the Dewan Negara published on the Parliament’s website today.
The minister was responding to Senator Datuk Mohd Hatta Md Ramli regarding Malaysia’s efforts to harmonise differences among ASEAN countries, particularly in cross-border payments, given the varying levels of digital readiness within ASEAN nations.
Zaliha added that Bank Negara Malaysia (BNM) is currently collaborating with central banks from three ASEAN countries and India under the Nexus Project to develop a multilateral cross-border payment network.
She elaborated that this next-generation payment solution initiative aimed to connect domestic instant payment systems worldwide through a single connection to the Nexus payment scheme platform.
“The Nexus entity is expected to process its first live cross-border transactions in 2027,” she added.
-- BERNAMA