KUALA LUMPUR: Cross-border QR payment transactions reached 11.8 million in the first half of 2025, with a total value of RM967 million.
Minister in the Prime Minister’s Department Datuk Seri Dr Zaliha Mustafa confirmed these figures represent a significant increase from the 11.7 million transactions valued at RM860 million recorded throughout 2024.
The transactions include payments between Malaysia and four ASEAN member countries: Cambodia, Indonesia, Singapore, and Thailand.
These cross-border payments also encompass Malaysia-China and Malaysia-Korea linkages established through commercial arrangements between payment service providers.
Dr Zaliha provided this information in a written reply to the Dewan Negara published on the Parliament’s website today.
She was responding to Senator Datuk Mohd Hatta Md Ramli’s inquiry about Malaysia’s efforts to harmonise differences among ASEAN countries in cross-border payments.
The senator had specifically questioned how Malaysia addresses varying levels of digital readiness within ASEAN nations regarding payment systems.
Dr Zaliha further revealed that Bank Negara Malaysia is currently collaborating with central banks from three ASEAN countries and India under the Nexus Project.
This collaboration aims to develop a multilateral cross-border payment network to enhance regional financial connectivity.
The Nexus Project represents a next-generation payment solution initiative designed to connect domestic instant payment systems worldwide.
This connection will occur through a single link to the Nexus payment scheme platform, streamlining international transactions.
The Nexus entity is expected to process its first live cross-border transactions in 2027, marking a significant milestone in regional financial integration. – Bernama
