A rapid expansion of Alipay+ payment acceptance has helped Malaysian businesses connect with more international customers, doubling the number of payment partners since its integration with DuitNow QR in October 2023.
The partnership between Payments Network Malaysia (PayNet) and Ant International—a leading digital payments and financial technology provider—has made Alipay+ the biggest contributor to cross-border QR payments in Malaysia. By December 2024, Malaysian merchants saw a sixfold increase in revenue, compared to the same period in 2023, thanks to rising tourism and seamless digital payment options.
Expanding payment options for global travellers
Through DuitNow QR, businesses can now accept payments from 15 international mobile wallets, including Alipay (China), GCash (Philippines), Kakao Pay (South Korea), and Changi Pay (Singapore). This expansion has enabled visitors from 10 countries and regions to pay using their home apps at over 2.5 million DuitNow QR locations across Malaysia.
Gary Yeoh, Chief Marketing Officer of PayNet, said: “We are committed to building an open and seamless payment ecosystem. Our collaboration with Ant International has significantly enhanced cross-border payment acceptance, helping local merchants tap into Malaysia’s growing international tourism market.”
Driving economic growth for Malaysian SMEs
The rise in digital payments has empowered small and medium-sized enterprises (SMEs), making it easier for them to cater to international visitors. Alipay+ transactions via DuitNow QR have grown by 50% quarter-on-quarter in 2024, reinforcing Malaysia’s position as a regional tourism and shopping hub.
Edward Yue, General Manager for Southeast Asia, Australia, and New Zealand at Ant International, said: “With Alipay+, we provide local businesses with a gateway to global customers. This partnership is creating inclusive economic growth and positioning Malaysia as a key destination for international travellers.”
Malaysia welcomed over 25 million visitors in 2024, with a goal of 35.6 million by 2026 under the Visit Malaysia 2026 campaign. The government aims to strengthen tourism’s role in the economy, and seamless digital payments are seen as a key enabler.
Tourism spending trends: food, culture, and wellness
Transaction data from Alipay+ highlights Malaysia’s reputation as a food and cultural hotspot. Many visitors are spending on:
- Local food experiences, including kopitiams, bakeries, satay stalls, and traditional confectionery shops
- Heritage attractions, such as the Baba & Nyonya Heritage Museum and Sun Yat Sen Museum
- Bars and cocktail lounges, reinforcing Malaysia’s reputation for nightlife and international cuisine
Additionally, there is rising interest in wellness and outdoor activities, with tourists frequenting dive centres, fitness studios, and massage and beauty salons.
Seamless payments have also made everyday travel more convenient, with high transaction volumes at convenience stores, pharmacies, supermarkets, and vending machines.
Looking ahead to 2025 and beyond, PayNet and Ant International plan to expand merchant connectivity, launch marketing campaigns, and educate businesses on digital payment adoption, further enhancing Malaysia’s appeal as a global travel destination.
