Malaysia – WeChat’s mobile payment and digital wallet service, Weixin Pay, has recently announced its strategic collaboration with financial services firm PayNet.
This initiative is designed to allow travellers from the Chinese Mainland to make payments using DuitNow QR at over 2 million Malaysian merchants.
In this partnership, the two intend to streamline transactions for visitors, eliminating the need for currency exchange or separate top-ups, and will offer a familiar payment method. This move further aims to bring greater visibility to local merchants and Chinese consumers.
Similarly, Hong Leong Bank (HLB) has introduced Weixin Pay acceptance for its HLB DuitNow QR merchants.
To process the payments, merchants are required to present their HLB DuitNow QR code for tourists to easily scan using the WeChat app. Said transactions are processed with automatic currency conversion from Chinese Yuan to Malaysian Ringgit.
Furthermore, HLB BizBuddy DuitNow QR merchants can now accept QR payments from visitors from Thailand, Singapore, and Indonesia, offering a broader payment solution for travelers.
The latest update coincides with the growth of Chinese tourist arrivals in Malaysia, with 1.47 million visiting in 2023 and an expected 5 million in 2024.
Andrew Jong, managing director for personal financial services at HLB, said, “We are excited to expand our convenient payment solutions for our merchants. Enabling Weixin Pay acceptance through our HLB DuitNow QR not only directly supports the revitalization of our tourism sector, but also reinforces Malaysia’s appeal as a top investment, business, and travel choice for China.”
“We remain dedicated to delivering innovative solutions that cater to the ever-changing needs of our customers, ultimately driving growth for the Malaysian economy,” he further added.
