Malaysian enterprises are seeing a notable increase in QR payments from tourists due to inter-country QR payment systems made possible through
DuitNow QR
. As Payments Network Malaysia Sdn Bhd (
PayNet
) and Ant International entered into a partnership with
cross-border payment acceptance agreement
When visitors travel to Malaysia, they can enjoy a smooth payment process since they have the ability to scan DuitNow QR codes with their personal e-wallet applications from abroad.
Alipay+ network
.
In marking the completion of their initial collaborative year, Paynet and Ant International revealed that the international QR partnerships facilitated significant economic prospects for Malaysian small and medium-sized enterprises (SMEs). During this time, Alipay+ accounted for over 80% of cross-border incoming QR transactions through DuitNow. The partners also noted that from December 2024 onwards, revenues for local businesses surged sixfold relative to the corresponding timeframe in 2023.
Due to the cross-border arrangements facilitated by Alipay+, tourists from
10 countries and regions
can now use their personal payment applications for payments at over
2.5 million DuitNow QR access points established across Malaysia
By merely scanning the pink DuitNow QR code. It was mentioned that the volume of Alipay+ transactions via DuitNow QR has reportedly increased on average.
rose by 50% sequentially in 2024
, making Alipay+ the largest driver of cross-border inbound QR payments in Malaysia.
Currently, users of Alipay+ partner e-wallets and banking applications can make payments using the DuitNow QR code as follows:
- Alipay (Chinese Mainland)
- AlipayHK (Hong Kong SAR, China)
- MPay (Macao SAR, China)
- TrueMoney (Thailand)
- KBank (Thailand)
- Changi Pay (Singapore)
- Hipay (Mongolia)
- HelloMoney (The Philippines)
- GCash (The Philippines)
- Tinaba (Italy)
- Kaspi (Kazakhstan)
- BigPay (Singapore)
- BigPay (Thailand)
- Kakao Pay (South Korea)
- Naver Pay (South Korea)
- Toss (South Korea)
Tourism Malaysia reports that more than 25 million tourists visited the nation in 2024, with ambitions to reach 35.6 million as part of the Visit Malaysia initiative set for 2026. The widespread adoption of DuitNow QR among merchants allows travelers to easily make payments through their preferred apps throughout the country. Additionally, the use of Alipay+-enabled applications surged fivefold during the fourth quarter of 2024 compared to the previous year. Key locations seeing high utilization rates encompass Kuala Lumpur, Malacca, Penang, Johor Bahru, and Kota Kinabalu.
Gary Yeoh, the Chief Marketing Officer at PayNet, stated, “Being Malaysia’s national payments network, PayNet is dedicated to developing an open and smooth payment environment that allows businesses to flourish.”
He stated, “The collaboration with Ant International has greatly improved cross-border payment options for our local businesses, enabling them to cater to the increasing number of tourists worldwide. Thanks to Alipay+, DuitNow QR is now giving small and medium-sized enterprises the ability to expand internationally, thereby strengthening Malaysia’s status as a top choice for both tourism and retail.”
In the meantime, Edward Yue, the Regional General Manager of Ant International for Southeast Asia, Australia, and New Zealand, stated, “Through Alipay+, we provide local enterprises with access to a worldwide customer base, fostering broader economic inclusion within their communities. PayNet has established both the necessary infrastructure and strategic alliances to facilitate these connections, and we’re thrilled to partner with them to integrate international users into this system. This is only the beginning; over the coming years, our collaboration could lead to significant advancements, cementing Malaysia’s status as a leading global travel destination and boosting prosperity among Malaysian companies.”