Malaysians now have a new cashless payment option when visiting mainland China. Besides Touch ‘n Go eWallet, Maybank’s MAE app can now be used for Alipay QR payments in China.
Maybank claims to be the first Malaysian bank to expand its cross-border QR Pay service to China and it will benefit over 8 million Maybank MAE app users visiting China. The addition of the China corridor expands Maybank’s cross-border QR payment which currently includes Thailand, Indonesia and Singapore.
Maybank’s Group CEO of Community Financial Services, Dato’ John Chong said Maybank’s active engagement in the cross-border initiative demonstrates the Bank’s unwavering commitment to provide convenience to its customers, and aligning with Maybank’s M25+ strategic thrusts, to strengthen its regional presence.
He added “Our entry into China offers an exceptional opportunity to access the dynamic and thriving Chinese market, further solidifying our international footprint. This is a significant milestone in our mission to deliver unmatched payment solutions that is seamless and secure, and we are excited to bring this new development to our customers.”
How to use MAE to scan Alipay QR codes?
Here’s how you can use the MAE app for Alipay transactions in China:
- Launch your MAE app and tap on the QR logo
- Scan the merchant’s Alipay QR code
- Key in the payable amount in the foreign currency (CNY)
- The current exchange rate will be displayed on the screen, tap Pay Now to confirm
- If the amount is more than RM250, you will be required to authorise the payment
- After payment is completed, you can show your confirmation page which displays both MYR and the foreign currency
Take note that you can only scan Alipay merchant QR codes. Peer-to-peer (P2P) cross-border QR payments are not supported due to regulatory restrictions.
Maybank QRPay merchants can accept Alipay payments by visitors from China
Besides enabling Malaysians to spend in China, Maybank has announced that its over 700,000 Maybank QRPay merchants in Malaysia can also accept transactions made by incoming visitors from mainland China. This enables a seamless and secure payment experience for tourists as they can scan the DuitNow QR through Alipay.
The strategic initiative is a result of Maybank’s collaboration with PayNet to aid Malaysians travelling to China as well as in-bound Chinese tourists visiting Malaysia. PayNet has also announced today that 8 Asian eWallets are now accepted by DuitNow QR merchants. Malaysian businesses with the DuitNow QR codes are able to accept cashless payments from international tourists using Alipay, AlipayHK, HelloMoney by AUB, Hipay, MPay, Naver Pay, Toss Pay and TrueMoney.
According to Maybank, Chinese tourists continue to be a key target segment for Malaysia with the Tourism Ministry expecting approximately 16 million tourists for 2023, of which 5 million are expected from China. Prior to the pandemic, Chinese tourists have made a significant contribution of RM15.3 billion in tourist receipts in 2019.
In case you missed it, here’s our cross-border payment experience using Touch ‘n Go eWallet in mainland China:
For more information about MAE’s cross-border QR payments, you can visit Maybank’s website.
Related reading
- DuitNow QR merchants can now accept payments from 8 Asian eWallets including Alipay
- Using Touch ‘n Go eWallet with Alipay QR codes in China: Here’s what you need to know
- Cashless in China: How to pay using Touch ‘n Go eWallet and Alipay in mainland China
- 10 Asian eWallets including Touch ‘n Go eWallet support cross-border Alipay payments in China
