Hong Leong Bank Berhad (HLB) has got the green light from Bank Negara Malaysia to provide WeChat Pay payment solution.
WeChat Pay enables online and offline (O2O) digital payments from retail merchants in Malaysia with an easy-to-adopt, fully integrated cross-border payment solution. Working in collaboration with Tencent, HLB now enables Malaysian businesses to start accepting WeChat payments for both online and in-store payments.
This will allow Chinese tourists to use their WeChat accounts to make payments when visiting Malaysia. With a simple user interface, users benefit from this quick, mobile app based, QR code payment tool to make purchases in Malaysia in RMB and other currencies.
WeChat Pay launched in 2011, providing fast and reliable payment services to its users and is one of the most popular mobile payment services in China.
“This is an important development for our Merchant Services business and we are excited to expand the payment ecosystem for greater convenience to our Malaysian merchants” said Domenic Fuda, Group Managing Director and Chief Executive Officer of HLB.
“This will be our first foray as an acquirer of the very popular Chinese wallet based payment methodology riding on WeChat Pay technology which has over 600 million monthly active users in China”.