Across Asia, QR code-based payments are transforming the way small and large businesses accept money. Driven by national P2M (Person-to-Merchant) QR standards, countries are enabling millions of merchants—especially in retail and micro-enterprises—to go digital without costly POS devices. From China and India’s massive networks to Indonesia’s 38 million QRIS merchants, the region is setting the pace for financial inclusion through low-cost, interoperable payment systems. Now, Pakistan has emerged as a fast mover, onboarding over 770,000 merchants under its Raast P2M QR system within just three years. This article highlights the latest adoption figures and trends across eight leading Asian economies that are reshaping the cashless commerce landscape.
- China – Alipay & WeChat Pay (P2M QR)
China leads globally with hundreds of millions of merchants—ranging from street vendors to large retailers—accepting QR payments via Alipay and WeChat Pay. Over 95% of mobile users routinely scan QR codes for in-person purchases.
- India – UPI + BharatQR (P2M QR)
India’s Unified Payments Interface (UPI) ecosystem, including the BharatQR standard, supports tens of millions of merchants, spanning both online and offline channels. Billions of QR‑based transactions are processed daily.
- Indonesia – QRIS
Bank Indonesia’s QRIS unified standard (launched August 2019) reached approximately 38.1 million merchants by early 2025 .
56.3 million users, handling 2.6 billion transactions worth Rp 262.1 trillion in Q1 2025. QRIS Tap (NFC-based) enabled 1.4 million merchants as of launch .
- Philippines – QR PH P2M
The Philippines’ national EMV‑based QR standard (QR PH) onboarded around 473,000 merchant locations by April 2022, with fast growth through BSP’s InstaPay and bank adoption.
- Thailand – PromptPay / ThaiQR
Thailand’s PromptPay (with ThaiQR merchant‑scan capability) launched in 2017. As of 2019, it had around 43 million user subscribers; merchant and POS network continues to grow, primarily through widespread smartphone adoption.
- Vietnam – VietQR
The VietQR standard (2021 launch) is still scaling across banks and e‑wallets. While specific merchant counts for 2025 aren’t published, widespread wallet interoperability and ASEAN linkage indicate rapidly expanding acceptance, especially in urban and tourist zones with almost Over 650,000 Acceptance Points
- Sri Lanka – LankaQR
Launched in March 2019. As of 2024, over 350,000 merchant points accept LankaQR, including UPI‑linked merchants targeting Indian tourists
- Pakistan – Raast P2M QR
Launched by the State Bank of Pakistan in March 2022, integrated into Raast. As of Q3 FY25 (~April–June 2025):
770,000 merchants onboarded for P2M QR code acceptance.
1.5 million QR‑based transactions processed in that quarter—PKR 4.5 billion in value.
These merchants are part of Pakistan’s broader digital payment momentum: in Q3 FY25, 89% of retail payments (volume) moved through digital channels (~1.686 billion transactions), including PKR 27 trillion in value via mobile/QR wallets. QR‑based merchant payments alone accounted for 21.7 million transactions worth PKR 61 billion in Q3 FY25
Summary of Merchant Onboarding
Country QR P2M System Merchant Count (most recent)
China Alipay / WeChat QR Hundreds of millions
India UPI + BharatQR Tens of millions
Indonesia QRIS 38.1 million merchants (2025)
Philippines QR PH 473,000 merchants and expanding
Thailand ThaiQR / PromptPay Tens of millions estimated
Vietnam VietQR Over 650,000 Acceptance Points
Sri Lanka LankaQR 350,000 merchant points (2024)
Pakistan Raast P2M QR 770,000 merchants (Q3 FY25)
Analysis & Key Insights
Growth & Scale
Indonesia leads regional merchant deployment with over 38 million onboarded. China and India, with their massive user ecosystems, host far larger merchant networks.
Pakistan is catching up fast—starting QR payments in 2022 and already hitting 770,000 merchants by mid‑2025.
Gaps & Potential
Pakistan’s QR merchant penetration remains modest relative to MSME base (~5 million retailers), suggesting scope for further device and agent-led onboarding.
In contrast, Indonesia and Thailand have normalized QR acceptance even among street vendors and micro‑merchants.
Interoperability Outlook
ASEAN cross-border QR linkage is live for QRIS, ThaiQR, VietQR, and QR PH, enhancing frictionless payment for tourists and merchants .
Pakistan may explore cross-border QR use via integration with international wallets or remittance-linked QR systems in future policy phases.
In a landscape Indonesia leads in merchant penetration (~38 M), followed by India and China at massive scale. Pakistan, though newer, is rapidly scaling: 770,000 merchants onboarded and playing a growing role in national digital retail infrastructure.