Wise brings scan-to-pay QR in 50+ destinations and custom eSIMs to Singapore and Malaysia, while settling a UK tax statement error

For travellers in Asia, paying abroad usually means juggling cards, cash and a different e-wallet for every country. Wise wants to replace that with one app. On 6 October the company launched QR payments covering more than 50 destinations and customisable eSIM data plans, with customers in Singapore and Malaysia among the first in the world to access both, according to Fintech News Singapore.

The same week brought a less welcome headline. Wise is negotiating a settlement with the UK tax authority, HMRC, after software errors produced incorrect tax statements for about 4,000 UK customers between 2021 and 2025, according to Finance Magnates, citing the Financial Times. Together, the two stories show Wise expanding its everyday usefulness while managing the operational risks that come with a growing range of products.

How Wise's QR payments work

Wise's Scan to Pay feature lets customers pay by scanning merchant QR codes from within the Wise app. In Singapore, customers can use PayNow QR, and in Malaysia, DuitNow QR. The app also connects to QR Ph in the Philippines, Swiss QR-bill in Switzerland and Qvik in Hungary.

A partnership with Ant International's Alipay+ extends coverage further. Eligible customers can scan merchant QR codes in mainland China, Hong Kong, South Korea and Cambodia. In mainland China, eligible travellers can pay without a Chinese bank card, a local mobile number or a separate app, removing one of the biggest frustrations for visitors.

SK Saraogi, Wise's Asia Pacific chief executive, said payment systems vary by destination, which makes simple purchases frustrating, and that Scan to Pay brings local QR networks together in one app so travellers can pay like locals. Yen Ting Chiam, Wise's Malaysia country manager, said Malaysian travellers often struggle with juggling e-wallets or finding money changers.

• QR coverage: more than 50 destinations.
• Singapore: PayNow QR. Malaysia: DuitNow QR. Philippines: QR Ph.
• Alipay+ merchants: mainland China, Hong Kong, South Korea and Cambodia.
• Europe: Swiss QR-bill and Qvik in Hungary.
• First markets: Singapore and Malaysia, from 6 October 2026.

Exchange rates are part of the value proposition. Wise built its business on converting money at or close to the mid-market rate with transparent fees, and QR payments draw on the same multi-currency balances. For travellers used to dynamic currency conversion at terminals, which often carries hidden markups, a transparent rate can mean meaningful savings.

The eSIM plans

Alongside QR payments, Wise launched eSIM data plans. Standard regional plans cover more than 150 destinations. Customisable plans let customers choose their data allowance and duration, and are available in Singapore, Malaysia, the UK, the European Economic Area, the US, Canada, Brazil, Australia and New Zealand.

Customers install the eSIM once and buy later plans through the app, with data use starting when the eSIM connects to a supported network at the destination. Wise says it refunds purchased data plans that go unused. Pricing was not detailed in the announcement.

The logic is to own more of the travel experience. A traveller who uses Wise for currency, card payments, QR payments and mobile data opens the app many times per trip, deepening engagement and making it harder for competitors to win the customer.

Wise is turning a money transfer app into a travel super-app: pay by QR, spend by card, connect by eSIM, all in one place.

Why QR payments matter in Asia

QR codes are the dominant way to pay in much of Asia. National schemes such as PayNow in Singapore, DuitNow in Malaysia, PromptPay in Thailand, QRIS in Indonesia and QR Ph in the Philippines handle huge volumes, and many small merchants accept only QR. Card acceptance can be patchy outside major retailers.

That creates a gap for travellers. Visitors often cannot use local QR schemes without a local bank account or wallet. Regional linkages between national QR systems have started to close that gap for residents of participating countries, and fintechs such as Wise are building their own bridges for international travellers.

Competition is intense. Local wallets, regional super-apps, banks and global players are all racing to own cross-border QR payments. We covered regional QR linkages in our report on Project Nexus and ASEAN instant payments, and Thailand's own model in our PromptPay blueprint.

Travel flows make the opportunity large. Singaporeans and Malaysians are among Asia's most frequent travellers, with popular destinations across Southeast Asia, China, South Korea and Japan. A single app that works with local QR systems in those places removes friction that card networks and money changers have long profited from.

The HMRC tax statement issue

In the UK, Wise is discussing a bulk settlement with HMRC to cover potential tax shortfalls after third-party software miscalculated some customers' investment income and capital gains on tax statements issued between 2021 and 2025. The statements feed into UK self-assessment tax returns, so errors could mean customers declared the wrong amounts.

Wise says it has fixed the problem, issued corrected statements and will compensate customers who overpaid tax. It noted that an incorrect statement does not necessarily mean a customer paid the wrong amount of tax, because individual circumstances vary. It described the issue as affecting a limited number of customers, while reports put the figure at about 4,000. No settlement amount has been disclosed.

The episode adds to a series of regulatory headlines for Wise. Its chief executive, Kristo Kaarmann, was fined 350,000 pounds by the FCA in 2024 for failing to disclose significant tax issues, Belgian authorities are investigating potential money laundering offences involving Wise, and US regulators rejected its banking licence application in July, citing deficiencies in anti-money laundering checks, according to Finance Magnates.

What it means for Wise's brand

Wise built its reputation on transparency, with clear fees and mid-market exchange rates. Launching useful features such as QR payments and eSIMs reinforces that brand promise of making international money simple. The tax statement errors cut against it, because they involve the accuracy of information customers rely on.

The response matters more than the error. Contacting affected customers, issuing corrected statements, compensating overpayments and settling with the tax authority are the right steps. How clearly Wise communicates them will determine whether the issue becomes a footnote or a lasting reputational problem.

For fintechs generally, the episode is a reminder that expanding into investment products brings tax reporting obligations, often reliant on third-party software. Testing and oversight of those systems is part of protecting customers and the brand.

What travellers and businesses should know

For travellers from Singapore and Malaysia, the new features offer a practical way to pay in QR-heavy destinations without carrying multiple apps or large amounts of cash. Users should check which destinations and merchants are supported, compare exchange rates with alternatives, and understand any fees.

For Wise customers in Thailand, where Wise launched a multi-currency account and card in September 2026, the QR and eSIM features may follow. Wise has been expanding steadily across Southeast Asia, and Singapore remains its regional hub.

For UK customers with Wise investment products, the advice is to review any corrected statements carefully and seek tax advice if unsure whether their returns need amending.

Wise's QR and eSIM launch shows a company pushing beyond transfers to own the whole travel money experience, with Singapore and Malaysia leading. The HMRC issue is a reminder that every new product line brings new responsibilities. For travellers in Southeast Asia, the practical upside is clear: fewer apps, less cash and simpler payments in QR-first destinations. For Wise, the test is to keep its brand promise of simplicity and accuracy as it grows.