Chinese tech giant announced that WeChat Pay Malaysia has ceased new e-wallet user registrations starting 1 August 2024, and discontinue payment services from 1 September 2024, due to “business strategy adjustment”.
Existing users will be able to withdraw their e-wallet balances through the e-wallet portal until 31 December 2024.
A special withdrawal arrangement will be available from 1 January 2025.
To facilitate withdrawals, users should log in to their WeChat accounts, go to “Me,” select “Pay and Services,” then “Balance,” and choose “Withdraw” and follow the on-screen instructions to complete the process.
Other WeChat services, including messaging and Weixin Pay, will continue to operate as usual.
Weixin Pay remains available for Malaysians traveling in China and for Chinese tourists in Malaysia.
For balance withdrawals, users who have not completed identity verification must first navigate to “Me,” select “Pay and Services,” choose “Payment Management,” and complete “Identity Verification.”
Verified users can proceed to withdraw by adding a bank account, verifying their mobile number, and submitting the withdrawal request.
Withdrawals typically take three business days to process.
For more information, users can contact customer service at 03-2727 9797 during the transition period.
“With the adjustment of business strategy, we will focus on RMB-denominated cross-border payments in Malaysia and continue to assist Malaysian businesses to tap into this fast-growing and dynamic market by enabling them to receive safe, secure, and convenient payments from Chinese visitors through Weixin Pay(or known as WeChat Pay).
We are also planning to work with local Malaysian e-wallets to enable cross-border QR payment interoperability for Malaysian travellers to China. We are working closely with all stakeholders to ensure a seamless and orderly transition.”
Featured image credit: Edited from Freepik
This article was updated at 3.37pm on 5 August to include a statement from Tencent
