PETALING JAYA: With the Asean Payment Connectivity initiative in place, GHL Systems Bhd
stands to benefit greatly when the borders reopen, as it has more than 383, 600 touch points across Asean in place to facilitate cross-border transactions.
Kenanga Research noted that Bank Negara has started to implement cross-border digital payment with Thailand, which allows Malaysian e-wallet users to scan Thai QR code and vice-versa (going live by the fourth quarter of 2021), and also cross-border digital transaction by referencing the recipient’s mobile number (going live by the fourth quarter of 2022).
This initiative will lead to a surge in digital payment volume when borders reopen, said the research unit.