Payments Network Malaysia (PayNet) and Ant Group have partnered to enable tourists from other Asian countries to pay with their e-wallets in Malaysia.
By the end of this year, users of five Asian e-wallets, including AlipayHK, GCash, Kakao Pay, and TrueMoney, will be able to pay with their e-wallets at over 1.8 million merchants across Malaysia. More e-wallets are expected to join in the coming months.
The partnership will also allow Malaysian e-wallets to be accepted by Alipay+ merchants network globally in 2024.
In addition to payments, Ant Group and PayNet will also collaborate on joint digital marketing efforts to promote businesses to users of e-wallets.
In addition to Malaysia, Alipay+ is also widely accepted in the Chinese mainland, Macao SAR, Singapore, Thailand, Japan and South Korea among others.
Meanwhile, PayNet has several successful cross-border collaborations with Thailand, Indonesia, and Singapore.
Gary Yeoh, Chief Commercial Officer of PayNet said,
“This partnership between PayNet and Alipay+ is forged at a vital time when overseas travel and tourism have fully resumed, and rapidly increasing.
Since Malaysia has long been a favourite and popular destination with Asian tourists, and vice-versa, this collaboration will likely result in higher trade growth between the two nations. We do see the proliferation of seamless international payments at scale sooner than we think. It is just a matter of time.”
Dr. Cherry Huang, General Manager of Alipay+ Offline Merchant Services, Ant Group said,
“Alipay+’s 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.
Travellers today have greater expectations when they travel, particularly the use of digital solutions to enhance their experience. They want it to be simpler, with less complexity and less hassle, and in working with our local partners, this is exactly what we want to achieve – personalised, seamless and borderless experiences.”
