RCBC Eyes Cross-Border QR Payments Through HIVEX Network

By FinTech News Philippines

HIVEX already connects banks and wallets across Taiwan, South Korea, and Japan, giving RCBC a template for how the corridor could work.

RCBC and Novus Transact Philippines Corporation have signed an MOU to explore connecting RCBC to HIVEX, a cross-border QR payment network developed by TBCASoft.

The goal is to expand QR payment interoperability between the Philippines and international markets, though the deal remains exploratory with no confirmed launch.

Under the collaboration, RCBC and Novus will evaluate letting inbound QR payments flow from HIVEX wallet partners to QR Ph merchants in the Philippines.

They will also explore outbound capabilities that could eventually let RCBC wallet users pay by QR overseas, including in Japan, South Korea, Taiwan, and China.

HIVEX lets participating institutions connect their domestic payment ecosystems while keeping their own governance and compliance frameworks intact.

“HIVEX is expanding rapidly across key global markets as the premier standard for cross-border payment interoperability,” said Ling Wu, CEO of TBCASoft.

Ricardos Khoury, President and CEO of Novus Technologies, said Novus already runs RCBC’s ATM Go network for more than 10 million Filipino families, mostly in rural communities, and will serve as the HIVEX gateway in the Philippines.

“It’s how we already power RCBC’s ATM Go for more than ten million Filipino families,” he said, describing the goal as building a corridor where a traveller can pay by QR in their own currency.

Lito Villanueva, RCBC’s Chief Innovation and Inclusion Officer, said the bank looks forward to working with TBCASoft and Novus to unlock more seamless cross-border QR payment experiences for Filipinos.

Novus and RCBC’s Existing Track Record

Novus already powers RCBC’s ATM Go network, which reached all 82 Philippine provinces and has processed over PHP 7.5 billion in transactions.

HIVEX, meanwhile, already counts South Korea’s Bizplay (ZeroPay), with 1.75 million merchants, and Taiwan’s E.SUN Bank among its members.

Featured image: Edited by Fintech News Philippines based on an image by Rizal Commercial Banking Corporation (RCBC) via its Press Release.

See full post here.