Maybank, one of the first Malaysian banks in the market, has expanded its cross-border QR Pay service to China, amplifying the financial group’s capabilities and improving the ease and efficiency of financial transactions.
This initiative will benefit over eight million Maybank MAE mobile app users visiting China, as well as more than 700,000 Maybank QRPay merchants in Malaysia via transactions made by visitors from China, according to Bernama via The Edge Malaysia.
Datuk John Chong, the Group Chief Executive Officer of Community Financial Services, expressed that Maybank’s cross-border initiative showcases its commitment to providing convenience to customers and aligns with the group’s strategic goals to strengthen its regional presence.
He highlighted the significant milestone in their mission to deliver seamless and secure payment solutions, emphasising their excitement in bringing this development to customers.
Maybank also mentioned that Malaysian MAE mobile app users can now make cashless payments in China with AliPay merchants.
Users need to scan the QR code using the MAE mobile app, enter the payment amount (converted to Chinese CNY), and receive an instant payment confirmation with exchange rate and deductible amount details in ringgit.
Moreover, merchants in Malaysia can now accept QR payments from incoming travellers from China by scanning the DuitNow QR through Alipay, one of the preferred payment platforms in China, which offers a fast, convenient, and secure solution.
