A few weeks ago, Tencent had announced plans to introduce WeChat Pay in Malaysia. Now we are a step closer as Hong Leong Bank has received approval from Bank Negara Malaysia to offer WeChat Pay payment solutions together with Tencent’s payment arm.
With this collaboration with Tenpay Payment Technology Co Limited, tourists from China can use their WeChat accounts to make payments during their visit to Malaysia. Hong Leong Bank will be a merchant acquirer for WeChat Pay and they will offer local retail businesses with a solution that will enable both online and offline digital payments.
Using a QR code-based system, WeChat users can make instant purchases on their smartphones using Chinese RMB and other currencies. WeChat Pay is very popular in its home ground in China with over 600 million active users each month.
From the looks of it, WeChat Pay will be enabled first for Chinese visitors which is similar to AliPay in Malaysia right now. The announcement marks the beginning of WeChat Pay’s presence in Malaysia and we hope that they would soon enable this mobile wallet feature for Malaysian users. If you’re wondering how it works, check out the video below:
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