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GLN International, SendMn and QPay expand QR payment network to Mongolia

By Gloria Mathias

April 02, 2024

  • APAC
  • APAC news
  • Cross-Border
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GLN, Remitly, Korea, Cross-Border, Instant Payments, Domestic Banks, Payments Solutions, APAC News, Korea FinTech, US Fintech, Daegu Bank, Korea, APAC, Banque Pour Le Commerce Exterieur Lao Public, BCEL, Loas, Fintech news, Korea News, JCB, Japan Fintech, Global Payments Network, Fonepay, Fintech News, AUB, Asia, united Bank, Philippines, QR Payments, Korea, SendMn, QPay Mongolia, Fintech News, QR Cross border, Payments Network, Fintech Solutions, GLN International, SendMn, and QPay have forged a partnership agreement to enable cross-border QR payments between Mongolia and the countries, and regions connected in the GLN global payment network.

Top officials from the Central Bank of Mongolia, and the Financial Regulators Commission witnessed the MoA signing by Kenneth Kim CEO of GLN, Turbold B. CEO of SendMn, and Erdenemunkh G. CEO of QPay.

After launching the service in June, the customers of eWallets in the GLN network can make QR payments seamlessly at over 200,000 QPay stores throughout Mongolia.

In addition, the users of 12 partner bank apps and 7 e-wallets in the QPay network will be able to make QR payments in 11 countries and regions connected to the GLN’s global payment network, including Korea, Japan, Taiwan region, and Thailand, among others.

Notably, this partnership propels the development of the local tourism industry in Mongolia and signifies a step forward in the cross-border payment industry.

GLN’s CEO, Kim Kyung-ho, stated, “I am confident that through our partnership with SendMn and QPay, we will make an attractive payment service via competitive real-time exchange rates and the extensive merchant network, providing secure, seamless, cross-border QR payment services.” He further remarked, ” Being at the forefront of cross-border mobile payment services, connecting Mongolia to GLN’s payment network is a significant milestone. We eagerly anticipate delving into diversification of the products operated with our partners in the future.”

SendMn’s CEO, Turbold B. shared, “With Korea emerging as a popular destination for Mongolian travellers, the imminent opening of a new electronic payments promises to revolutionize the way citizens of both our nations conduct transactions. As we formalize our alliance with Korea’s GLN, we witness the fruition of our collective vision.”

The joint efforts of GLN, SendMn, and QPay seek to bring more convenience, security, and efficiency in the journey of travellers to and from Mongolia, as well as other regions connected to the GLN payment network. Moreover, it will drive the advancement and proliferation of QR payment technology across the Asian region, ushering in a new era of digital payments.

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