Business·5/4/2026AI summary China Expands Cross-Border QR Payment with ASEAN, Enabling Yuan Transactions in Thailand, Vietnam, Malaysia, Singapore
China has enabled cross-border QR code payments with Indonesia, Thailand, Vietnam, Malaysia and Singapore, allowing users to pay in their home currencies. Alipay and QRIS now work across borders, with Chinese visitors able to use digital wallets in Thailand since late October and UnionPay/Alipay in Vietnam since December. Natixis analysts say the move advances dedollarisation, promotes yuan internationalisation and strengthens ASEAN economic ties.