PR84563

SINGAPORE, July 1, 2020 /PRNewswire=KYODO JBN/--

--Liquid Group will strengthen its cross-border contactless QR payment network

through a strategic collaboration with NICE Payments ("NICE") as its partner

acquirer in Korea.

--The partnership will expand the international merchant pool of Liquid Group

and its issuer partners as well as enable NICE's merchants to accept QR

payments from the customers of Liquid Group and its issuer partners across the

region.

--Customers of Liquid Group and its partners will also enjoy the convenience of

using their preferred payment apps for their overseas QR payment transactions

at NICE's extensive network of merchants in Korea.

Liquid Group, a regional mobile payment services group headquartered in Singapore,

will partner with NICE Payments ("NICE") as its merchant acquirer in Korea.

Nice Payments, a subsidiary of NICE Information & technology, is the payment

specialist of NICE Group, the biggest financial infrastructure group in Korea.

Nice Payments has continued to develop and lead the rapidly changing payment

and settlement market to meet the various needs of its customers, processing an

annual transaction amount exceeding KRW 19 trillion (as of 2016).

Through this partnership, customers of Liquid Group and its issuer partners

will be able to use their preferred payment apps and e-wallets for their local

and overseas QR payment transactions at more than 33,000 of NICE's QR-enabled

merchants, including one of the largest duty-free shops in Korea and many other

popular tourist destinations. This will be followed by rolling out to over

700,000 of its credit card merchants base at a larger stage. This also expands

the international merchant base for Liquid Group and its partners.

Likewise, through Liquid Group's XNAP Network which supports large-scale QR

acceptance and usage in both local and overseas markets, NICE merchants in

Korea will be able to support cross-border QR code payment transactions.

Travellers will stand to benefit from a seamless cross-border payment journey

using their trusted local payment app to make mobile payments overseas, while

enjoying greater convenience and enhanced security features such as the ability

to monitor their account balance and keep track of their transactions.

Yoon Kyeong Hwang, CEO of NICE Payments, said: "It is meaningful to be a

strategic business partner with Singapore-based Liquid Group," and emphasized

that, "The partnership with Liquid Group has great significance as NICE

Payments will be the first to provide Southeast Asian E-wallet service in

Korea, and will lead to great opportunities by creating new growth engine as a

global payment platform."

Jeremy Tan, Founder and CEO of Liquid Group, said: "We are thrilled to be

joining forces with NICE Payments, which has a phenomenal track record in

driving payments for over 30 years. It's a win-win situation for both groups as

we share the same vision of accelerating the cashless movement across Asia and

making it the super region for QR payments on the global stage."

Further to the launch of XNAP Network to drive interoperability of cross-border

QR payment service providers, Liquid Group has sustained its lead with a series

of strategic partnerships across several markets in the region. Liquid Group

will continue to explore more international partnerships to further its vision

of creating a connected and robust QR payment ecosystem for all.

Media Contact for Consortium

TH Kim

E: thkim@nicepay.co.kr

M: +82-10-6714-4904

Pengene Lee

E: pengene.lee@liquidpay.com

D: +65-272-5115

M: +65-9745-5223

About NICE Payments

NICE Payments is the payment system specialist of NICE Group that has grown as

a global financial infrastructure group for the past 30 years and focusing on

electronic payment service. In addition to online and offline electronic

payment services, NICE Payments provides the largest E-wallet payment

integrated platform service in partnership with major simple payment companies

to lead the recent payment market trend. In order to become a global PG

business operator, NICE Payments has been providing PayPro service, Chinese

E-wallet platform, for domestic merchants since 2017 with WeChat and Alipay and

expanding their overseas payment business area through various alliances with

global payment providers.

About Liquid Group

Liquid Group is a leading QR payment services group headquartered in Singapore

with a presence across the Asia-Pacific. It operates XNAP Network

(www.xnap.network), an open API based QR payment acceptance network that

enables the cross-border acceptance of bank and non-bank QR payment apps across

multiple markets in the region. By spearheading the largest cross-border

interoperability framework, Liquid Group is an industry leader in the creation

of a more connected and robust mobile payment ecosystem for all.

SOURCE  Liquid Group

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=366393

   Caption:  Mr Hwang Yoon Kyeong (CEO, NICE Payments) with Andrew Ahn (Head of Business

Development - North East Asia, Liquid Group) at NICE Payments and Liquid Group

strategic partnership signing ceremony.