Alipay+ Empowers New Growth Opportunities for Malaysian SMEs, Contributing More Than 80% of Inbound QR Payments via DuitNow
In their first full year of partnership in 2024, Payments Network Malaysia Sdn Bhd (PayNet) and Ant International, a leading global digital payment, digitisation and financial technology provider, brought new economic opportunities to Malaysian SMEs, with Alipay+ making up more than 80 percent of cross-border inbound QR payments via DuitNow. In the peak travel season in December 2024, the partnership enabled 6 times growth in revenue for Malaysian merchants, compared to the same period in 2023.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250317987292/en/
Malaysian SMEs can connect with global customers via DuitNow QR and Alipay+
In October 2023, Alipay+, a unified wallet gateway with cross-border payment and digitisation services under Ant International, went live on DuitNow QR, enabling Malaysian SMEs to accept QR payments from international travellers. Today, the number of Alipay+ payment partners that can make payment via DuitNow QR, has more than doubled to 15 international apps, bringing even more customers to Malaysian SMEs.
The Alipay+ partners enabled for use in Malaysia are: Alipay (Chinese mainland), AlipayHK (Hong Kong SAR, China), MPay (Macao SAR, China), TrueMoney and KBank (Thailand), Changi Pay (Singapore), Hipay (Mongolia), HelloMoney and GCash (The Philippines), Tinaba (Italy), Kaspi (Kazakhstan), BigPay (Singapore, Thailand), Kakao Pay, Naver Pay, Toss (South Korea).
“As Malaysia’s national payments network, PayNet is committed to building an open and seamless payment ecosystem that enables businesses to thrive,” said Gary Yeoh, Chief Marketing Officer of PayNet. “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.”
Gateway to growth for Malaysian businesses
Enabled by Alipay+, travellers from 10 countries and regions can now pay using their home payment app at more than 2.5 million DuitNow QR touchpoints in Malaysia simply by scanning the DuitNow QR. In 2024, the number of Alipay+ transactions on DuitNow QR has on average increased by 50 percent quarter-on-quarter, making Alipay+ the biggest contributor to cross-border inbound QR payment, and empowering Malaysian merchants to benefit from the growth in travel.
“We have always believed in the power of travel, for connectivity, cultural exchange and as an economic driver,” said Edward Yue, General Manager for Southeast Asia, Australia and New Zealand, Ant International. “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.”
According to Tourism Malaysia, the country welcomed more than 25 million visitors in 2024, with a goal of 35.6 million for the Visit Malaysia 2026 campaign. VM2026 aims to increase tourism revenue, strengthen Malaysia’s global tourism competitiveness, and ultimately position the sector as one of the largest contributors to the country’s GDP.
With the extensive merchant coverage of DuitNow, travellers are enjoying the convenience and seamless experience, paying with their own payment app across Malaysia, with the number of visitors using an Alipay+-enabled payment app increasing five times year-on-year in Q4 2024. Top visited cities include: Kuala Lumpur, Malacca, Penang, Johor Bahru and Kota Kinabalu.
Travel like a local with seamless payments
Malaysia is known as a foodie and cultural haven. Other than shopping, local food including kopitiams (coffee shops), bakeries, and shops selling bak kut teh, satay and locally-produced confectionary accounts for the most transactions amongst travellers. Travellers are also visiting bars and cocktail lounges, cementing Malaysia’s status as a hub for local and international cuisine. Museums like the Baba and Nonya Heritage museum and Sun Yat Sen museum are some of the most visited attractions.
Also on the rise are outdoors and wellness activities, with travellers visiting sporting and recreation camps, diving, fishing and fitness centres, and massage and beauty salons. They enjoy the convenience of day-to-day travel, with one of the highest transactions at convenience stores, pharmacies, supermarkets and vending machines.
In 2025 and beyond, PayNet and Ant International will continue to collaborate through merchant connectivity, marketing and educational campaigns to bring even more growth to Malaysian SMEs.
About Payments Network Malaysia Sdn Bhd
Payments Network Malaysia (PayNet) is the national payments network and central financial infrastructure for Malaysia with the vision to empower Malaysia's digital economy. Our extensive retail payments suite, DuitNow (QR and P2P), JomPAY (Bill Payments), FPX (Online), MyDebit (Domestic Debit), MEPS (ATM), and IBG (Interbank GIRO) has near ubiquitous coverage across the nation and is part of the daily fabric of life in Malaysia. In addition, PayNet’s real time retail QR payments network, DuitNow, is also interoperable with domestic schemes in Singapore, Thailand, and Indonesia to enable seamless cross-border transactions with those countries.
PayNet is committed to promoting a secure, efficient, and innovative payments ecosystem in Malaysia, and works closely with its stakeholders to develop new products and services that meet the evolving needs of consumers and businesses.
For more information, please visit www.paynet.my.
About DuitNow
Learn more at: https://www.duitnow.my/index.html
About Alipay+
Ant International's Alipay+ is a unified wallet gateway with cross-border payment and digitisation services that help connect global merchants to consumers. Consumers enjoy seamless payment, a broad choice of deals and the convenience of digital services using their preferred payment app while travelling abroad. Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250317987292/en/
Contacts
Scott Lai
Scott.lai@antgroup.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
www.businesswire.com
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
PUMA Becomes Official Partner of the Premier League17.3.2025 13:42:00 EET | Press release
Global sports company PUMA has signed an official agreement with the Premier League, the most-watched football league globally, as part of the company’s strategy to elevate the brand and strengthen its sports performance credibility. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250317329567/en/ Global sports company PUMA has signed an official agreement with the Premier League, the most-watched football league globally, as part of the company’s strategy to elevate the brand and strengthen its sports performance credibility. This landmark collaboration will see PUMA become the Official Ball Supplier of the Premier League, which includes the provision of match balls at all League matches from the start of the 2025/26 season. Through this partnership, PUMA will also support the Premier League across multiple initiatives, from community-based football programs that nurture grassroots talent to high-impact marketing campaigns a
Incyte Announces Positive Topline Results From Two Phase 3 Clinical Trials of Povorcitinib in Patients With Hidradenitis Suppurativa17.3.2025 13:00:00 EET | Press release
Incyte (Nasdaq: INCY) today announced positive topline results from its pivotal Phase 3 STOP-HS clinical trial program evaluating the safety and efficacy of povorcitinib (INCB054707), an oral small-molecule JAK1 inhibitor, in adult patients (≥18 years) with moderate to severe hidradenitis suppurativa (HS). Both the STOP-HS1 and STOP-HS2 studies met their primary endpoint at both tested doses (45 mg and 75 mg). A significantly higher proportion of patients treated with povorcitinib once daily (QD) versus placebo achieved Hidradenitis Suppurativa Clinical Response (HiSCR), a ≥50% reduction from baseline in the total abscess and inflammatory nodule count (AN count), with no increase from baseline in abscess or draining tunnel count. The percentage of povorcitinib treated patients achieving HiSCR50 compared to placebo at Week 12 was: STOP-HS1: 45 mg: 40.2% vs. 29.7% [P=0.024] 75 mg: 40.6% vs 29.7% [P=0.022] STOP-HS2: 45 mg: 42.3% vs. 28.6% [P=0.004] 75 mg: 42.3% vs. 28.6% [P=0.003] Within
Adara Ventures Announces First Close of €100M AV4 Fund, Targeting Cybersecurity, AI & Digital Infrastructure17.3.2025 12:03:00 EET | Press release
Adara Ventures, the European venture capital firm specialising in early-stage deep tech investments, today announced the first close of its fourth flagship fund, AV4, targeting €100 million in capital commitments. This new fund reinforces Adara’s commitment to delivering strong returns in strategic sectors, including cybersecurity, applied AI, digital infrastructure, hardware components, digital health, and space. “We are immensely proud to announce the successful first close of AV4,” said Nico Goulet, Founding Partner of Adara Ventures. “Over the past nine months, we have secured in excess of €140 million in commitments across our fourth-generation funds. Alongside AV4, this includes Adara Ventures Energy (AVE), our first Pan-European fund dedicated to energy transition technologies. In one of the most challenging fundraising environments of the past 20 years, our strong DPI record, disciplined investment strategy, and focused fund model make AV4 a compelling opportunity for our limit
Astronauts’ Health During Space Missions: Nichi BRITE and Neu REFIX Beta Glucans Could Benefit by Neutrophil-to-Lymphocyte Ratio, IL-6 Control, the Immune Biomarkers of Aging and Longevity17.3.2025 11:22:00 EET | Press release
Neutrophil to Lymphocyte ratio (NLR) is a critical biomarker of health of astronauts during space mission, and that of aging related illnesses, inflammaging, longevity and cancer prognosis. Oral consumption of AFO-202 strain of Aureobasidium pullulans produced Nichi BRITE and N-163 strain produced Neu REFIX together in pre-clinical and clinical studies having safely and beneficially modified NLR, are considered holding potential to help maintain astronauts health during space flight and also to bridge the gap between health span and life span by ‘Me-Byo’ phenomenon as published in Frontiers in Immunology while Neu REFIX standalone yielding enhanced dystrophin, an additional benefit that might help prevent muscle loss during space missions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250316966059/en/ Astronauts during space missions, deep-sea researchers, high-altitude climbers, and workers exposed to radiation hazards, ar
Cineca to House Italy’s Most Powerful Quantum Computer IQM Radiance 5417.3.2025 11:04:00 EET | Press release
Italian supercomputing centre Cineca today announced an agreement with IQM Quantum Computers, a global leader in superconducting quantum computers, to deliver the most powerful quantum computer in Italy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250317715500/en/ IQM Radiance 54-qubit superconducting quantum computer IQM Radiance quantum computer, powered by IQM’s 54-qubit quantum processing unit (QPU), will be installed in the fourth quarter of 2025. The quantum computer will be integrated into Leonardo, which is one of the world’s fastest supercomputers. This will mark a major technology and innovation milestone for Italy and the larger quantum ecosystem. The installation will also be the first on-premises quantum computer at Cineca, which further consolidates the institution’s position as a centre of excellence for scientific computing internationally and strengthens Italy’s position in quantum computing. IQM intends
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom