Payment provider PayNet has expanded its partnership with Alipay+, enabling Malaysian travelers to use DuitNow to pay at participating merchants in China, Hong Kong, South Korea, the Philippines and Laos.
Malaysia's payment provider PayNet has strengthened its partnership with Alipay+, the payment platform provided by China's Ant Group, creating an environment in which Malaysian travelers can pay at Alipay+ participating merchants using their local bank apps.
The participating banks are Malayan Banking (Maybank), CIMB and Hong Leong Bank, with Bank Islam also expected to join soon. Payments are completed by scanning the Alipay+ QR code displayed at participating stores, using Malaysia's standard QR code and DuitNow functionality.
Cross-border payment transactions are increasing, with approximately 30 million cross-border transactions recorded last year, up 150% year on year. The partnership between PayNet and Alipay+ has continued since around 2013.
Travelers holding Alipay+-supported wallets can make payments at stores participating in Malaysia's DuitNow service.