Industry WIKI

The Chiang Mai Initiative (CMI) is a multilateral currency swap arrangement among the ten members of the Association of Southeast Asian Nations (ASEAN), the People's Republic of China (including Hong Kong), Japan, and South Korea. It draws from a foreign exchange reserves pool worth US$120 billion and was launched on 24 March 2010. That pool has been expanded to $240 billion in 2012.

LankaQR, stylised in all caps as LANKAQR, is a national QR code payment system in Sri Lanka, initiated by the Central Bank of Sri Lanka (CBSL) in collaboration with LankaClear (Pvt) Ltd and licensed financial institutions. The standard was introduced on 12 October 2018 and formally launched on 11 March 2019, aiming to promote a cashless society, enhance financial inclusion, and reduce re

A QR code payment is a mobile payment method where payment is performed by scanning a QR code from a mobile app. This is an alternative to doing electronic funds transfer at point of sale using a payment terminal. This avoids a lot of the infrastructure traditionally associated with electronic payments such as payment cards, payment networks, payment terminal and merchant accounts.