PAYMENTS Network Malaysia Sdn Bhd (PayNet) and Ant International have propelled Malaysian small and medium enterprises (SMEs) into the global market, with Alipay+ accounting for over 80 percent of cross-border QR payments via DuitNow after a year into their partnership.
Malaysian merchants saw a sixfold revenue increase compared to the same period in 2023, fueled by international spending through Alipay+ during the peak travel seaason in December last year.
“As Malaysia’s national payments network, PayNet is committed to building an open and seamless payment ecosystem that enables businesses to thrive,” said PayNet’s Chief Marketing Officer Gary Yeoh.
“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 in Kuala Lumpur, on Wednesday.
Since its launch on DuitNow QR in October 2023, Alipay+ has expanded to 15 international e-wallets, including Alipay (China), Kakao Pay (South Korea), GCash (Philippines), and Changi Pay (Singapore). This allows travellers from 10 countries to pay at over 2.5 million DuitNow QR-enabled merchants nationwide.
Ant International General Manager Edward Yue said the collaboration is bringing local businesses closer to global customers.
“We have always believed in the power of travel for connectivity, cultural exchange, and as an economic driver,” 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.”
The rise of QR-based payments has provided seamless transactions for tourists, with the number of visitors using Alipay+-enabled apps increasing fivefold year-on-year in Q4 2024.
PayNet and Ant International has set their sight to further integrate Alipay+ with more merchants, marketing campaigns, and educational initiatives to drive SME growth this year. - March 19, 2025
