Alipay+ Expands Digital Payment Options for Travelers in Malaysia

Published 6 months ago

Travelers from eight countries have been granted the convenience of using their Alipay+ supported e-wallets for digital payments across Malaysia. This development, effective since October 31, 2023, enables the use of these e-wallets to scan PayNet’s DuitNow QR code at a network of over 1.8 million merchants nationwide.

Supported E-Wallets and Future Plans

The Alipay+ supported wallets that are now accepted in Malaysia include Alipay (China), AlipayHK (Hong Kong SAR), HelloMoney by AUB (Philippines), Hipay (Mongolia), MPay (Macau SAR), Naver Pay and Toss Pay (both South Korea), and TrueMoney (Thailand). More partners are anticipated to join the Alipay+ network, which will further enhance cashless transaction options. Additionally, the integration will soon allow DuitNow QR users in Malaysia to make payments at Alipay+ supported merchants globally starting in 2024.

Digital Marketing and Travel Solutions

The collaboration extends beyond payment solutions, aiming to incorporate joint digital marketing initiatives and a travel marketing solution. This solution, powered by Alipay+, is designed to offer international travelers rewards and discounts at participating merchants. The Alipay+ merchant ecosystem is expansive, covering tens of millions of merchants across more than 50 markets.

Economic Growth and Tourism Boost

The integration of Alipay+ and DuitNow QR is seen as a significant step for cross-border payment interoperability, potentially leading to increased trade and commerce. This move coincides with the Malaysian tourism industry’s recovery and the upcoming Visit Malaysia Year in 2026. The collaboration is expected to connect economies significantly contributing to global GDP growth and encompass a large portion of the world’s younger population.

Farhan Ahmad, Group CEO of PayNet, views this partnership as the dawn of a new Silk Route, one that is digital and facilitates cross-border transactions. Ahmad emphasizes the timely nature of this development and its potential to accelerate economic integration in the ASEAN+3 region.

Douglas Feagin, Senior Vice President of Ant Group and Head of Alipay+ Cross-Border Mobile Payment Services, points to a report indicating a surge in intra-Asia cross-border travel and payments. The report suggests that average consumer spending could almost double from 2016 to 2025. Feagin highlights the importance of connecting local merchants with international visitors to enhance travel experiences and stimulate Malaysia’s local tourism ecosystem.