Malaysian businesses are experiencing a significant rise in QR payments among travellers thanks to cross-border QR payment arrangements enabled via DuitNow QR. Since Payments Network Malaysia Sdn Bhd (PayNet) and Ant International signed a cross-border payment acceptance agreement, travellers visiting Malaysia are able to enjoy a seamless payment experience as they can scan DuitNow QR codes using their home eWallets via the Alipay+ network.
Marking the first full year of the partnership last year, Paynet and Ant International shared that the cross-border QR arrangements have brought new economic opportunities to Malaysian SMEs, with Alipay+ making up more than 80% of cross-border inbound QR payments via DuitNow. They shared that during the December 2024 period, the partnership has enabled 6x growth in revenue for Malaysian merchants, compared to the same period in 2023.
As a result of the cross-border arrangements enabled by Alipay+, travellers from 10 countries and regions can now pay using their home payment apps at more than 2.5 million DuitNow QR touchpoints in Malaysia by simply scanning the pink DuitNow QR code. It was shared that the number of Alipay+ transactions on DuitNow QR has on average increased by 50% quarter-on-quarter in 2024, making Alipay+ the biggest contributor to cross-border inbound QR payments in Malaysia.
At the moment, the following users of Alipay+ partner eWallets/banking apps are able to make payments with the DuitNow QR code:
- 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)
According to Tourism Malaysia, the country has welcomed over 25 million visitors in 2024 and it aims to have 35.6 million for the Visit Malaysia 2026 campaign. With the extensive DuitNow QR merchant coverage, travellers can enjoy the seamless and convenient experience of paying with their own payment app across Malaysia. It added that the number of users using an Alipay+ enabled payment app has increased 5x year-on-year in Q4 2024. Among the top usage cities include Kuala Lumpur, Melaka, Penang, Johor Bahru and Kota Kinabalu.
PayNet’s Chief Marketing Officer Gary Yeoh said, “As Malaysia’s national payments network, PayNet is committed to building an open and seamless payment ecosystem that enables businesses to thrive.”
He added, “Our partnership with Ant International has significantly enhanced cross-border payment acceptance for local merchants, helping them tap into a growing wave of global travellers. With Alipay+ as a key driver, DuitNow QR is empowering SMEs to compete on an international scale, reinforcing Malaysia’s position as a premier travel and shopping destination.”
Meanwhile, Ant International General Manager for Southeast Asia, Australia and New Zealand, Edward Yue said, “With Alipay+, we offer local businesses a gateway to global customers, driving more inclusive growth in local communities. PayNet has built the infrastructure and partnerships to enable this, and we’re proud to collaborate and bring international users into this ecosystem. We’re just getting started, and in the years ahead, we can make an even greater impact together, positioning Malaysia as a global tourism hub and generating more growth for Malaysian businesses.”
