PayNet and Ant Group have launched a collaboration to enable cross-border payments between its two e-wallets platforms, DuitNow and Alipay+. With this move,
travellers from eight countries are now able to make purchases in Malaysia by scanning DuitNow QR codes using their Alipay+ partner e-wallets.
Currently, the supported e-wallets include China's Alipay, Philippines' HelloMoney, Mongolia's Hipay, Macau's MPay, Japan's Naver Pay, South Korea's Toss Pay, Thailand's TrueMoney, and Hong Kong's AlipayHK. While only these e-wallets are supported in Malaysia at the moment, PayNet and Ant Group say that they plan on integrating more payment partners in the future, with talks ongoing to include even Buy Now Pay Later players.
The companies stated that reciprocal acceptance of DuitNow for the listed Alipay+ merchants will be rolled out from 2024 onwards, but Maybank announced today that its cross-border feature now includes two-way support with Alipay in China. Of course, this isn't the first cross-border payment collaboration Malaysia has with other countries.
Malaysia has already established QR payment linkages with Indonesia, Thailand, and Singapore with plans for a total of five Southeast Asian nations to have linkages. BigPay has QR cross-border support with Singapore, Thailand, and Indonesia, but this only goes one-way as tourists from those countries can't use its platform to make payments here.
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