SINGAPORE, MALAYSIA, 17 March 2025 – In a successful first full year of collaboration, Payments Network Malaysia Sdn Bhd (PayNet) and Ant International have significantly contributed to the growth of Malaysian SMEs, with Alipay+ now accounting for over 80% of cross-border inbound QR payments via DuitNow. This collaboration has empowered local businesses to tap into global tourism, with a notable 6-fold increase in revenue for Malaysian merchants during the peak travel season in December 2024, compared to the previous year.
The partnership kicked off in October 2023 when Alipay+, a unified digital payment gateway from Ant International, went live on DuitNow QR, enabling Malaysian SMEs to accept QR payments from international travelers. Since then, the number of Alipay+ payment partners has more than doubled to include 15 international apps, expanding the reach of global customers to Malaysian merchants.
Alipay+ Partners in Malaysia Include:
- Alipay (China), AlipayHK (Hong Kong), MPay (Macau), TrueMoney (Thailand), KBank (Thailand), Changi Pay (Singapore), Hipay (Mongolia), HelloMoney (Philippines), GCash (Philippines), Tinaba (Italy), Kaspi (Kazakhstan), BigPay (Singapore, Thailand), Kakao Pay, Naver Pay, Toss (South Korea).
“As Malaysia’s national payments network, PayNet is focused on building a seamless and open payment ecosystem for businesses to thrive,” said Gary Yeoh, Chief Marketing Officer of PayNet. “Our collaboration with Ant International has significantly boosted cross-border payment acceptance, allowing local merchants to cater to the growing wave of international travelers and positioning Malaysia as a premier destination for global tourism.”
Empowering Malaysian Businesses to Reach Global Customers
Thanks to Alipay+, travelers from 10 countries and regions can now pay using their home payment app at over 2.5 million DuitNow QR touchpoints across Malaysia. In 2024, Alipay+ saw a consistent 50% quarter-on-quarter growth in transactions, making it the leading contributor to cross-border QR payments via DuitNow. This surge has unlocked new growth for Malaysian merchants, allowing them to benefit from the expanding tourism market.
“We believe in the power of travel as a key driver for economic growth and cultural exchange,” said Edward Yue, General Manager for Southeast Asia, Australia and New Zealand, Ant International. “With Alipay+, we’ve opened a gateway for local businesses to reach global customers, contributing to more inclusive growth for local communities. We’re excited to continue our collaboration with PayNet to make an even greater impact in the years to come.”
In 2024, Malaysia welcomed more than 25 million visitors, with a target of 35.6 million by 2026 under the Visit Malaysia 2026 campaign. This initiative aims to boost tourism revenue and enhance Malaysia’s competitiveness as a global tourism hub.
Malaysian Destinations and Activities Gaining Global Attention
Travel trends highlight Malaysia’s appeal as a foodie and cultural destination, with local eateries like kopitiams, bakeries, and satay stalls being among the most popular spots for international visitors. Tourists are also flocking to bars, museums, and cultural landmarks, such as the Baba and Nyonya Heritage Museum and Sun Yat Sen Museum. Wellness and outdoor activities, including fitness centers, fishing, diving, and beauty salons, are also seeing a rise in visits, with many travelers enjoying the convenience of paying via Alipay+.
With seamless payments available across the country, including at convenience stores, pharmacies, and vending machines, the user experience continues to improve for both international travelers and local merchants.
Looking Ahead: Continued Growth and Expansion
In 2025 and beyond, PayNet and Ant International plan to further enhance merchant connectivity, conduct marketing and educational campaigns, and introduce more initiatives to support the growth of Malaysian SMEs. The continued collaboration between these two organizations is set to bring even more opportunities for local businesses to grow and thrive in the global economy.
