KUALA LUMPUR: Ant Group has recently signed a Memorandum of Understanding (MoU) with Payments Network Malaysia Sdn Bhd (PayNet) to expand cross-border payments acceptance at 1.8 million merchants in Malaysia with five leading Asian e-wallets as the first batch, and more to come in the following months.
According to a statement, this partnership with PayNet is enabled via Ant Group’s global cross-border digital payments and marketing solutions, Alipay+, to promote seamless payment for inbound and outbound Malaysian travellers.
By year-end, users of five leading Asian e-wallets, including AlipayHK (Hong Kong SAR), GCash (the Philippines), Kakao Pay (South Korea) and TrueMoney (Thailand), will be able to use cashless payments when they travel to Malaysia with Alipay+, by scanning DuitNow QR, Malaysia’s National QR Standard operated by PayNet.
General Manager of Alipay+ Offline Merchant Services at Ant Group, Dr Cherry Huang said the collaboration with PayNet is a significant development for regional travellers.
“We are jointly making efforts to bring local businesses and international visitors closer together, offering not just convenience to tourists but greater opportunities and visibility for Malaysian businesses,” she said.
Meanwhile, PayNet chief commercial officer Gary Yeoh said the partnership between PayNet and Alipay+ was forged at a vital time when overseas travel and tourism have fully resumed, and rapidly increasing.
“Consumers and merchants in both countries who are already accustomed to digital payments expect the same seamless and hassle-free experience when travelling overseas. They also expect this to be conducted at competitive exchange rates. This collaboration will address both these needs,” he added.
The partnership will enable all Malaysian e-wallets supported by PayNet to be accepted by Alipay+ merchants network globally in 2024.
Beyond payments, Ant Group and PayNet will also collaborate on joint digital marketing efforts to enhance visibility of businesses directly within the users’ e-wallets. – BERNAMA
