SINGAPORE (Jan 25): A consortium of seven mobile wallets, acquirers and payment networks has been formed to enable interoperable quick response (QR) payments in Singapore for both consumers and merchants.

The consortium aims to jointly support an interoperable QR framework that allows consumers to pay with their mobile wallets and cards at participating merchants on a single merchant system.

It also targets to support interoperability among 2 million customers and 50,000 merchants in Singapore by end-2Q18.

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