PayNet expands partnership with Ant International for international QR payments
KUALA LUMPUR: Payments Network Malaysia Sdn Bhd (PayNet) and Ant International have entered a new memorandum of understanding (MOU) to collaborate on driving tourism through cross-border digital payments, strengthening fraud defences, talent development, and advancing sustainability.
In a statement, Malaysia's national payments network said the newly inked MoU marks a major milestone in enabling acceptance worldwide of Malaysia's national QR standard, DuitNow QR, through Ant International's global wallet gateway, Alipay+.
Malaysian travellers will soon be able to use their local e-wallet or banking app across Alipay+'s 100 million-strong global merchant ecosystem.
This new outbound linkage dramatically expands DuitNow QR's global reach, while providing Malaysians with seamless access abroad to their go-to payment app from home.
"Ant International is a global payments leader and this next phase of our partnership demonstrates the strength of Malaysia's national payment infrastructure and our ability to scale it globally.
"Not only will this partnership drive global acceptance of our DuitNow payments, it is the beginning of a deep collaboration around reducing fraud, developing future-ready talent, and building a more inclusive, sustainable and resilient digital global payments ecosystem – one that benefits Malaysians at home and while travelling, as well as tourists visiting our country,' said PayNet group CEO Farhan Ahmad. Trading ideas: SD Guthrie, AMMB, CelcomDigi, KTI, MBSB, E&O, Parkson, Titijaya, EcoWorld, PetChem, Solarvest, Express Powerr, Paramount, TSH, Dialog, CMS, Apex Healthcare
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