AEC Feed

A universal QR code has been launched in Singapore to free merchants from the need to display multiple QR codes to accept different cashless payment schemes.
 Dubbed SGQR, the national QR code allows consumers to scan and transfer funds from as many as 27 e-payment apps, including GrabPay, Dash and Nets.
 Singapore's interbank instant fund transfer system will also be opened up to non-banks such as Grab and Singtel, underpinning the transformation of the e-payment scene here.
 Monetary Authority of Singapore (MAS) board member Ong Ye Kung made the announcements on Monday, saying that the last few jigsaw pieces are finally coming together to help Singapore build its national cashless system.
 The technical specifications of SGQR were first unveiled in November last year. After the 27 payment firms worked the specifications into their payment systems, SGQR is now ready for commercial roll out.
 Announcing the launch of SGQR on Monday, Mr Ong said: "QR code payments have been growing and many cash-intensive merchants, such as hawkers, are accepting them. But every scheme... all issue their own QR code. This causes confusion."
 Even with this interoperable QR code, the topping up of various e-wallets has been impeded by the current set-up, where e-payment firms have to negotiate deals with individual banks to allow users to top up their wallets from their bank accounts. – The Straits Times

Deals worth $80m signed at China-Asean expo
As the China-Asean Expo drew to a close last week in Nanning, China, many left with the feeling that the Kingdom will forge stronger cooperation with the Asian powerhouse.
 In fact, several memoranda of understanding (MoU) were signed between Cambodia and major mainland Chinese investors.
 On the sidelines of the four-day event, Prime Minister Hun Sen met with eight Chinese corporate leaders, including Lei Jun, the founding chairman and CEO of smartphone maker Xiaomi.
 Twelve MoUs were signed between trade officials of the two nations aimed at boosting ties, according to a news release late Thursday from the Kingdom’s Ministry of Commerce.
 While the release didn’t explain the details of each memorandum of understanding (MoU), it said the total value of all 12 amounted to $80 million and covered many sectors, including tourism, engineering, airport construction, and research and training facilities. – Phnom Penh Post 

Widodo's pet project evolves into rural vehicle
Sukiyat, the initiator of the locally designed Mobil Esemka, has transformed the pet project of Indonesian President Joko Widodo into a rural transportation vehicle called the Mahesa, which will be mass-produced next year.
 Rural residents are the target market for the Mahesa, Sukiyat said over the weekend.
 The producer, PT Kiat Mahesa Wintor Indonesia (KMWI), and the distributor, PT Kiat Mahesa Wintor Distributor (KMWD), will cooperate with publicly listed automotive company PT Astra International to produce 25,000 units per year for now. 
Mahesa stands for Moda Angkutan Hemat Desa (affordable rural mode of transportation), as the vehicle is designed for villagers’ needs. 
The Mahesa is a multifunctional vehicle powered by a 650-cc diesel engine and able to carry loads of up to 900 kilograms. The Mahesa can also double as a water pump and or rice mill.
“This vehicle will be easy to sell, because it meets villagers’ needs. At the end of this year, all the licences will be completed,” Sukiyat told The Jakarta Post in a telephone interview on Sunday. |– The Jakarta Post 

Indonesia to lower overseas online shopping limit to $75
The Indonesian Finance Ministry’s Customs and Excise Office has issued a regulation to lower the import limit for online shopping to only US$75 from the initial $100.
“The new regulation will take effect on October 10,” said its director general, Heru Pambudi, in Jakarta on Monday as reported by kompas.com.
He said the policy was stated in Finance Minister Regulation No 112/PMK04/2018 on the amendment of Finance Minister Regulation No 182/PMK 04/2016 on imported goods through delivery. – The Jakarta Post