FINANCE

China Pilots Unified Cross-Border QR Code Payment System

Published: Sep. 17, 2025 7:59 p.m. GMT+8

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China is piloting a unified QR code system for cross-border payments to tackle inconsistent standards that require overseas wallets to connect separately with multiple domestic networks, making integration inefficient.

The system, co-developed by state-owned China UnionPay Co. Ltd. and the Payment and Clearing Association of China, began trials in late July, Lu Lei, a deputy governor of the People’s Bank of China (PBOC), said at a Tuesday forum.

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China has launched a pilot unified QR code system for cross-border payments, aiming to streamline integration for overseas e-wallets.
The system, developed by China UnionPay and the Payment and Clearing Association, has processed nearly 2 million transactions worth 427 million yuan ($60 million) as of September 11, 2024.
Participants include Alipay, Tenpay Global, KBank, and DBS PayLah!, enabling users from several countries and regions to pay on the Chinese mainland.

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Who’s Who

China UnionPay Co. Ltd.: China UnionPay Co. Ltd. is a state-owned company that co-developed a unified QR code system for cross-border payments with the Payment and Clearing Association of China. This system aims to standardize payment integration, allowing overseas e-wallets to connect with China's merchant network more efficiently. The pilot program for this system began in late July.

Payment and Clearing Association of China: The Payment and Clearing Association of China is co-developing a unified QR code system for cross-border payments with China UnionPay Co. Ltd. This system, which began trials in late July, aims to streamline inefficient integration processes caused by inconsistent standards for overseas wallets connecting to multiple domestic networks.

Ant Group Co. Ltd.: Ant Group Co. Ltd.'s Alipay and Ant International have joined China's pilot program for a unified QR code system for cross-border payments. This system aims to streamline payments for foreign visitors by allowing participating e-wallets to make payments on the Chinese mainland.

Ant International: Ant International joined China's unified QR code cross-border payment pilot program on Wednesday. This new system, designed to streamline cross-border payments, allows international e-wallets to connect to China's nationwide merchant network via a single interface, making integration more efficient.

Tencent Holdings Ltd.: Tencent Holdings Ltd. is involved in the pilot program for China's unified QR code system for cross-border payments through its platform, Tenpay Global. This initiative aims to streamline payment integration for overseas e-wallets, making it easier for users from various countries to make payments on the Chinese mainland.

Tenpay Global: Tenpay Global (财付通全球) is Tencent Holdings Ltd.'s cross-border payment platform. It is participating in a pilot program for a unified QR code system in China. This system aims to streamline cross-border payments by allowing overseas e-wallets to connect to China's nationwide merchant network through a single interface.

KBank: KBank, from Thailand, is participating in China's trial of a unified QR code system for cross-border payments. This system aims to streamline cross-border transactions and integrate overseas wallets more efficiently into China's payment network.

DBS PayLah!: DBS PayLah! is a Singaporean e-wallet participating in China's new unified QR code system for cross-border payments. This system began trials in late July, aiming to streamline transactions for overseas users in mainland China. DBS PayLah! is among the e-wallets from Singapore, Malaysia, Thailand, Hong Kong, and Macao enabled by this system.

Merchants Union Consumer Finance Co. Ltd.: Merchants Union Consumer Finance Co. Ltd. is a Chinese financial institution. Dong Ximiao, their chief researcher, explains that the new unified QR code system for cross-border payments creates a single, standardized interface. This allows domestic and international payment platforms to connect once to access China's nationwide merchant network.

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What Happened When

Late July 2025：: China began piloting a unified QR code system for cross-border payments, co-developed by China UnionPay and the Payment and Clearing Association of China.