KUALA LUMPUR: A strategic partnership between Payments Network Malaysia (PayNet) and Ant International has significantly expanded cross-border payment opportunities for Malaysian SMEs, with Alipay+ now powering over 80% of DuitNow’s international QR payments.
The collaboration has led to a remarkable six-fold increase in revenue for Malaysian merchants in December 2024 compared to the previous year, underscoring its effectiveness—particularly during peak travel seasons.
Expanding Access for Global Travellers
Since Alipay+ was integrated with DuitNow QR in October 2023, it has enabled local businesses to seamlessly accept QR payments from a growing number of international travellers. Over the past year, the number of Alipay+ payment partners using DuitNow QR has more than doubled, reaching 15 international apps and expanding Malaysian merchants’ reach to a broader global customer base.
Gary Yeoh, Chief Marketing Officer of PayNet, highlighted the company’s commitment to fostering an open payment ecosystem that supports SME growth.
“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,” he said.
Surging Digital Transactions and Tourism Growth
Ant International’s payment ecosystem has enabled seamless transactions for travellers from 10 countries and regions at over 2.5 million DuitNow QR touchpoints across Malaysia.
Throughout 2024, Alipay+ transactions on DuitNow QR grew by an average of 50% quarter-on-quarter, further solidifying its position as the largest contributor to cross-border QR payments in Malaysia.
Edward Yue, General Manager for Southeast Asia, Australia, and New Zealand at Ant International, emphasised the role of travel in driving economic growth.
“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,” he said.
This surge in digital transactions aligns with Malaysia’s booming tourism sector. According to Tourism Malaysia, the country welcomed over 25 million visitors in 2024 and aims to attract 35.6 million tourists for the Visit Malaysia 2026 campaign.
The seamless experience of using familiar payment apps via DuitNow QR has also driven a five-fold increase in visitors using Alipay+-enabled payment apps in Q4 2024. As Malaysia continues to strengthen its position as a key travel and shopping destination, the PayNet-Ant International partnership is poised to drive even greater growth in the years to come.
