China, Indonesia launch cross‑border QR payment link, boosting yuan internationalisation
China and Indonesia have introduced a cross‑border QR‑code payment system that connects Alipay with Indonesia’s QRIS platform, allowing shoppers to pay in their home currencies while traveling between the two nations. The initiative supports Beijing’s broader effort to internationalise the yuan and reduce reliance on the US dollar. Officials describe the service as a step toward a regional digital payments network.
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